It has emerged that the recovery of the property market is continuing as it has been revealed that house prices are rising at a rate of £200 a day. Houses across England and Wales are now worth over 3.1 % more now than at the same point this time a year ago. These figures are demonstrating that the state of the property market is continuing to improve and is at the best state than it has been for years.
The fact that house prices are on the rise may not necessarily be good news for first time buyers who are striving to get on the property ladder, but for home owners and other property investors, this is great news as the property investment that they have made is showing signs of reaping the benefits.
House Prices are on the Rise
You can read more on the rise of the house prices and what this could mean for home owners below …..
HOUSE prices have gone up by an average 0.5 per cent this month – the ninth rise in a row – as figures today suggest confidence in the market is at its highest for years.
House prices have risen for the ninth month in a row
Homes across England and Wales are worth 3.1 per cent more than a year ago, says property analyst Hometrack.
In the past four weeks alone, the value of the average property has soared by £6,923, more than £200 a day.
A typical three-bedroom semi is now worth £252,418.
There is still such a shortage of supply – with buyers flooding the market thanks to the Government’s Help To Buy scheme – that sellers are almost always getting their asking price.
The proportion of the asking price achieved was 95.2 per cent in October, up from 94.7 per cent in September.
This is just half a percentage point off the record 95.7 per cent at the height of the property boom in 2007. [Original Source: here ]
