UK House Prices Situation: Generally flat in most areas

UK House Prices Forecast: Likely to fall nationally through 2008

Rightmove Publishes Optimistic House Price Figures

Property website Rightmove has this week published its latest House Price Index, providing a guide to property asking prices in England and Wales.

Somewhat surprisingly, average asking prices are up 3.2% on last month, with the average annual increase for the last year now standing at 5.8%.

However, the upbeat headline figures were balanced against other, more negative trends:
• Properties taking longer to sell than last year
• Increase in average number of properties per estate agent

Rightmove also recorded the lowest new listings of property for sale for three years. The combination of this and an increase in the average stock levels per estate agent suggest that the market is stagnating, with fewer properties actually selling.

It's also worth remembering that Rightmove tracks asking prices, not selling prices.

As always, Rightmove's regional figures made interesting reading, with all but one region seeing a gain in the month to February 9th (annual figures in brackets):

• East Midlands: +5.8% (+2.2%)
• South East: +4.8% (+7.3%)
• West Midlands: +4.6% (+5.5%)
• Yorkshire & Humberside: +3.3% (+2.4%)
• East Anglia: +2.7% (+2.6%)
• Wales: +1.4% (-0.7%)
• South West: +1.3% (+3.4%)
• North West: +0.9% (+0.6%)
• Greater London: +0.9% (+11.7%)
• North: 0.0% (+2.2%)

It's interesting to note the contrast between monthly and annual figures across the regions. Some regions have experienced much stronger annual growth than others - with Wales even recording a fall in average prices over the last year.

.

Browse over 200 Free Mortgage Tips

Your Complete Guide to UK Mortgages

Find Out How to Win the Race to Buy Your Home - Home Buyers Guide

How to Sell Your Home

Learn How to Save ££s by Remortgaging

Read the Insider Info on Home Insurance

Best Buy UK Mortgage Tables

UK Mortgage Calculators

UK Mortgage Quotes

First Time Buyers

Self Employed Mortgages

Bad Credit Mortgages

Overseas Mortgages

Common Questions / FAQs

Mortgage Definitions

Mortgage Lenders UK List

LATEST MORTAGE UK NEWS

Site Help

About Us

Your Privacy

Contact Us

HELP

Mortgage Guide Site Map

Tip Our Charity