Regional house prices defy Brexit gloom
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.