Record asking prices in England and Wales

26 April 2017

Figures just released by property website Rightmove show asking prices in England and Wales hitting a new average record of £313,655, breaking the previous high of £310,471 from June 2016.

“The housing market continues to defy fears of a post-referendum slump,” reported the Guardian newspaper, with the forthcoming general election on 8 June showing no signs of dampening demand.

“Strong buyer activity this month has led to a 10 per cent higher number of sales agreed than in the same period in 2016,” said Miles Shipside, Rightmove director. “With the growth in household numbers and new-build supply struggling to keep pace, demand is strong and has led to the highest sales agreed numbers at this time of year since the heady pre-credit crunch levels. It has been a strong spring market.”

Eastern England saw the highest average rises in asking prices, rising 5.3 per cent to reach £349,269, followed by the West Midlands with a 5 per cent increase to £215,784. Asking prices in Wales rose by 4 per cent to £186,172.

First time buyers have been particularly active in recent months, according to Rightmove, with asking prices on small first-time property acquisitions (one-to-two bedroom apartments) reaching £194,881, a rise of 6.5 per cent year-on-year.