London house prices up almost a third
According to data from haart, prices in the capital have continued to climb annual, with average prices up 29.5% to £473,500.
Across the UK, new buyer registrations jumped 18.7% in a single month in March and FTB registrations across the UK increased 44.2% annually, opr 17.3% on the month, as spring prompts surge of new interest in buying.
The average first-time-buyer property price up 9.8% annually to an average £159,749 – prices increased 7.4% annually in March, taking the average to £195,511.
Paul Smith, CEO of haart, comments:
“London is now a country of its own in property market terms with average house prices in the capital up 29.5% on last year. There has been an unprecedented surge in both the number of new buyers, up 32.7% annually, as well as first-time-buyers, up 43.7% annually. Foreign investment continues to flood in – people know that there is no more lucrative place in the world to invest your money and see outstanding returns.
“Growth is spreading like glue across the country too with property prices up 7.4% annually and average first-time-buyer property prices up 9.8% annually. This is because demand and supply remain imbalanced with new properties for sale up 1.8% annually and new buyer registrations up 24.5% annually. Open house events are now common place – we hold around 240 every weekend – and often provide the fairest forum for buyers, while achieving an excellent price for the seller.”
Integrity IFA for independent mortgage advice on 01316530588