House prices fall in North East
House prices fall in North East
Those looking to invest in UK property may be interested to hear that according to new figures, the North East was the only region in England and Wales to experience a fall in house prices in July.
The Land Registry has revealed that the region saw a 2.3% decline between June and July, resulting in house prices now averaging 101,143 – a drop of 8.8% in the past year.
Overall, there was a 1.3% increase in the average price of a property to 163,049, after statistics revealed their biggest monthly shift since January 2010.
While house prices were slightly higher over the month, their level is still 2.1% below where they were over the same period last year.
Information from the Land Registry has also highlighted that in the past year, every English and Welsh region apart from London experienced a price fall.
London prices rose 1.3% to 346,416, while the capital also experienced the strongest price rise in the
August 30, 2011 No Comments
Gains in London and the South East offset housing losses in the rest of the country
UK house prices fell by 0.1% last month and have remained flat over the past year, according to research from Acadametrics and LSL Property Services.
Gains in London and the South East offset losses elsewhere in the country with prices going up by 3.7% and 0.1% respectively.
Prices in Wales fell by 2.9% and the Humber recorded the biggest drop of 3.4%. Regionally, the biggest losers were Blaenau Gwent where prices fell by 11.5% and Monmouthshire where property values dropped 11.8%.
The average UK house now costs £222,146.
Peter Williams, a housing specialist at Academtrics, said: “No change in the average price of a home over a year might be seen as good news in terms of achieving a degree of housing market stability, but is, in reality, misleading.
“There are very different price patterns occurring in the market in terms of property type, price bracket and location. All regions except for Greater London and the South East have falling house prices and within the regions there are hot and cold spots which are anything but static in behaviour.”
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April 9, 2011 No Comments
East London properties ‘need improvement’ to maximise price boost
East London properties ‘need improvement’ to maximise price boost
Those who own properties in the east of London may need to carry out some work to improve their interiors if they want to cash in on rising price in the area, an expert has said.
Speaking two years before the Olympic games takes place in the capital, franchisee of the Stratford office at estate agency Winkworth Richard Everitt said those who wanted to get a good price for their properties may need to invest in them first.
“You will probably find a lot of people thinking that they are on the gravy train and realistically their properties will not be of a high enough standard,” he noted.
Since the games were awarded to London in 2005, prices in the east of the city have risen by 26 per cent, a Lloyds TSB study revealed this week.
However, while Homerton saw prices rise by 69 per cent and Shoreditch by 53 per cent in that time, Stratford –
July 29, 2010 No Comments
East London property ’set for Olympic boost’
East London property ’set for Olympic boost’
East London will see its property prices rise faster than those in the rest of the capital in the near future, due to the Olympics, it has been predicted.
Speaking two years before the start date for the 2012 games, franchisee of the Stratford office at Winkworth Richard Everitt said new transport links and other factors will help increase demand for property in the area near the Olympic Park.
“We have got Westfield [Stratford City shopping centre] opening up in 2011 and that will be producing 18,000 jobs,” he noted, adding that the Olympics themselves and Crossrail will also help demand.
The best transport links in London after King’s Cross and the development of local brownfield site will help to push up values, he predicted.
Mr Everitt made his comments as new data showed that values have already risen substantially in much of the east of the capital since London was awarded the games in 2005.
Lloyds TSB revealed that
July 28, 2010 No Comments