The house price index on Rightmove shows the average national asking price of property is £309,191 which is down 0.1% from last month and up 1.4% on last year. The East of England average asking price saw a decrease of 1.1% to £352,217 but up by 0.4% on last year. The average time to sell in the region last month was 60 days according to Rightmove.
First time buyers house prices saw an increase of 1.0% to £191,272 whilst the second steppers saw a 1.2% decrease this month making the average asking price £276.805 – that is up 2.2% annually. Four out of eleven regions also hit record highs in the overall average house price statistics.
Average national asking prices in August according to the Nationwide House Price Index were £301,973 that is down 2.3% from last month and up 1.1% on last year. Nationwide report that house prices saw a slight decrease in August. Nationwide’s Chief Economist Robert Gardner says “Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year, though borrowing costs are likely to remain low. Overall, we continue to expect house prices to rise by around 1% over the course of 2018.”
If you are looking to buy or sell, then why not give us a call. We are experts in the local market and have an in-house mortgage advisor too, whether you are a first time or second stepper, landlord or looking to downsize. Every client is assured the same level of service and expertise. Just give us a call on 01733 592020.