You are here: Home - Mortgages - Buy To Let - News -

London only region to post June house price increase

0
Written by:
02/07/2012
London was the only region to post a rise in house prices during June, according to the latest Hometrack house price index.

Prices in the capital grew 0.3% last month, the only region of the country to post an increase on the previous month. Prices in East Anglia, East Midlands, North East, North West, South West, West Midlands and Yorkshire & Humberside fell.

The report says this fall could be down to the increased number of houses entering the market.

The number of new properties listed during the last month rose in every area of the country, continuing to outpace the rise in demand. London remains the best place to sell a house quickly with each property on the market for just 5.1 weeks before selling.

By contrast, houses in the East Midlands take an average of 12.9 weeks to sell.

Richard Donnell, director of research at Hometrack, commented: “House price growth slowed to a standstill in June as demand fell back and supply continued to increase.

“Demand fell by 0.5% for the first time in five months on growing uncertainty over the economic outlook and the impact of the Eurozone. “On the supply side, the volume of homes for sale continues to grow albeit at a slowing pace. New supply grew by 1.5% in June, but for each of the last three months the growth in new supply has out-paced demand.

“While headline prices remained static in June the survey reveals a shift in the balance of price changes between London and the rest of the country. “Price growth in London has remained steady at 0.3% for the last three months as supply remains tight and supports prices.

“Across all other regions there is evidence of renewed price falls and slowing growth rates on weaker demand. Prices were down across seven regions in June compared to just three regions in March.

“In March just 10% of the south east registered price falls but this has now grown to 26%. In the south west the proportion has grown from 2% to 32% over the same period, while the change has been 11% to 30% in East Anglia.”

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
ISA
Q&A Libor: the facts

Barclays has been fined £290m for manipulating key interest rates, and the entire banking sector is now under scrutiny. What...

Close