Rightmove, one of the UK's leading property websites, said that asking prices for houses had increased to an average of £253,658 – a new peak. This trend looks set to continue, which is positive news to sellers.
Despite the rise in house prices, the Bank of England is expected to keep its base rate at the extremely low 0.5 per cent for at least another year, which is the flipside of the rise and is good news for buyers who are looking for a cost-effective mortgage.
The rise in house prices does mean, however, that estate agents could have to work harder to sell properties at higher prices and they could look to refresh their marketing materials as part of this. Many look to produce Booklets by working with brochure printers in Cardiff.
Local estate agency director and spokesperson for the Royal Institution of Chartered Surveyors Tony Filice spoke about the change in the housing market, saying:
"There are various pockets of increased demand. Dramatically, in particular, for first-time buyer price ranges.”
The Council of Mortgage Lenders expect that house sales will rise this year by two per cent. Speaking on behalf of the National Association of Estate Agents, director Mark Hayward said:
"These really are encouraging figures; serious house hunters are continuing to enter the market and are intent on buying."
Rightmove tracks property price increases each month and releases the figures on its website.
Get a Free Quote for Booklets