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Regional house prices defy Brexit gloom

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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.

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