You are here: Home - Mortgages - First Time Buyer - News -

Regional house prices defy Brexit gloom

Written by:
The average asking price in Wales has broken through the £200,000 barrier for the first time, according to Rightmove.

Average prices of property coming to market in the West and East Midlands, and the North West are also at all-time highs.

Miles Shipside, director and housing market analyst at Rightmove  said: “Buyers looking in Wales are faced with newly-marketed property prices that are 4.1% higher than 12 months ago, with the West Midlands at 3.0%, the East Midlands at 2.5%, and the North West at 2.1%.

“These increases are the result of a combination of strong demand, buyers’ affordability headroom, and a continuing shortage of suitable properties.

“Agents in these areas say that Brexit concerns are not really on the agenda of home-movers.”

Average asking prices:

Wales – £200,386

West Midlands – £232,247

East Midlands – £228,927

North West – £198,399

By contrast, London and its commuter belt have seen average asking prices fall by 2.5%, meaning that prices of a newly marketed property are an average of £16,157 cheaper than 12 months ago.

The average asking price in Greater London is now £621,589.

Nationally, the price of a newly marketed property increased by an average of 0.9% (or £2,841) this month, buoyed by the higher buyer demand associated with the more active spring market.

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.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

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.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week

Privacy Preference Center