Rightmove House Price Index Jumps by 3.5%

by Property 118

11:27 AM, 15th October 2012
About 6 years ago

Rightmove House Price Index Jumps by 3.5%

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Rightmove House Price Index Jumps by 3.5%

Rightmove House Price Index sees asking prices rebound post-Olympics this month by 3.5% an average of £8,310. This reported increase partially reverses the poor summer of monthly falls totaling 4.6% or an average of minus £11,377.

All regions throughout England and Wales are showing an increase in asking prices this month with London posting the greatest rebound with 4.8% an average of £21,834 and a new peak average asking price of £478,071.

Although Estate Agents  are now testing higher prices, Rightmove is reporting that “few segments of the market can justify higher property values than the price peaks of 2007/8 and that fewer than 40% of buyers would arrange to visit a suitable property if they believed it was over-priced.”

Miles Shipside, director and housing market analyst at Rightmove comments: “The upturn in asking prices, in the absence of other positive influences, is most likely attributable to the continued shortage of new property supply. The weekly run-rate of fresh property stock this month is down by 0.4% on the same period a year ago.”

Below is a table showing Rightmove’s results by Region:

Region Avg Price Oct 2012 £ Avg Price Sep 2012 £ Monthly change % Avg Price Oct 2011 £ Annual Change %
Greater London 478,071 456,237 4.8 450,210 6.2
West Midlands 190,124 183,019 3.9 185,695 2.4
South East 311,438 299,629 3.9 317,055 -1.8
North West 165,865 159,729 3.8 161,797 2.5
Wales 168,045 162,495 3.4 165,597 1.5
South West 264,087 256,456 3.0 262,675 0.5
North 148,358 144,795 2.5 145,585 1.9
East Midlands 162,199 160,453 1.1 159,341 1.8
Yorkshire & Humberside 153,536 152,788 0.5 154,498 -0.6
East Anglia 230,057 229,231 0.4 227,549 1.1



Comments

Steve Hards

18:19 PM, 15th October 2012
About 6 years ago

Shouldn't the second column headed 'Avg Price Oct 2012' be 2011?

Mark Alexander

15:10 PM, 16th October 2012
About 6 years ago

Yes thank you Steve now showing as Oct 2011 for annual change.


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