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Hometrack +0.5%

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House prices have risen by 0.5% in March according to Hometrack's latest survey: the highest monthly rise since the summer of 2004.

Over the past 12 months house prices have risen by +0.1%, the first annual rise since January 2005. The national average house price now stands at £162,500, the survey showed.

“A resurgent market in London, where prices grew by 1.1%, has put something of a gloss on the headline results,” said Richard Donnell, Director of Research.

“Whilst prices moved 0.4% higher in the South West, East Anglia and the South East, growth in all other regions has been far more limited.

“This divergence in performance between London and the rest of the country is a result of a number of factors. A lack of new housing coming onto the market for sale in London is supporting particularly strong price rises at the moment. This, combined with the fact that London has underperformed in terms of house price growth over the last few years means that incomes and house prices in the capital are more closely aligned than is the case in other regions. In contrast, affordability levels remain stretched across much of the country and we expect the divergence in growth between London and the rest to continue over the year ahead," he added.

A key feature of the last three months has been the growing mis-match between the number of new buyers entering the market and the amount of housing for sale. This is providing an important support to price levels. Nationally there was a 7% rise in buyers over March compared to a 3.7% increase in the number of new properties for sale, said Hometrack. In London, the stock of properties for sale grew by just 1% over March whilst demand grew by 10%.

Despite signs of more buoyant demand there has only been a slight improvement in the proportion of the asking price being achieved over March. Sellers are achieving 94.3% of the asking price, up from 94.2% last month. Properties are also selling slightly more quickly whilst the average number of viewings per sale has decreased. There are some major differentials between the regions. For example, the average time to sell a property is 4.5 weeks in London compared to over 9 in the East Midlands and the North West where growth remains sluggish.

http://www.in2perspective.com/nr/2006/03/h...ndon-market.jsp

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Over the past 12 months house prices have risen by +0.1%, the first annual rise since January 2005. The national average house price now stands at £162,500, the survey showed.

This would mean that real house prices have fallen over the last 12 months.

That's very good news.

As a famous man once said, it's only when the tide goes out that you learn who's been swimming naked.

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Guest wrongmove

This would mean that real house prices have fallen over the last 12 months.

That is true. However, a 0.5% rise in Feb alone - very big for Hometrack. And pychologically, Hometrack was the only index that ever showed negative YoY HPI. Now, it too, has gone positive - just.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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