Average price of a UK home is now £205,309

Leading UK house price indices reveal that the UK housing market experienced consecutive monthly price rises in the first half of the year, with prices up 4.7% since the end of 2011, claims a new report from property experts Assetz.

The average price of a home is now £205,309, an increase of £9,156 since December, the highest average price recorded by House Price Watch (which is compiled using data from LSL Acadametrics, Nationwide, Halifax, ONS and Rightmove) since June 2008.

Stuart Law, Chief Executive of Assetz, said: “In spite of GDP falling to 0.7% in the second quarter of this year the UK property market appears to be under the influence of far more positive drivers. All of the figures in the latest House Price Watch point to positive annual growth this year with no ‘double dip’ in the forecast. The market is in fact outshining price performance in the first half of 2011 which went on to see price growth of 0.5% for the year as a whole, further dispelling this myth. However, the latest economic figures could still dampen activity in the third quarter.

“Growth of 4.7% for the year to date is reassuring and it looks like the long period of price stability seen since early 2010 could be making way for a strong rise in prices this year. While the figures paint a positive national picture some areas continue to outperform others but this is something consumers are increasingly aware of. Savvy buy to let investors are turning to cities outside of London such as Manchester and Leeds where strong demand and a lack of development has meant gross yields of 8% are typical. These investors will help underpin prices in regional cities this year.

He added that he expected to see annual price growth of 3% in 2012 “comfortably achieved”.

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• Laura Pelling

  Are you serious? You’re using Stuart Law of Assetzs as a credible source? Nationwide have published a YoY drop of 2.6%. But for those wanting to invest more in BTL, fill your boots. It’s a much happier situation if ‘investors’ take the hit, rather than FTBs who just want their own home.

• http://www.facebook.com/paul.turnbull.397 Paul Turnbull

  Well, his predictions have been far more accurate than those expecting massive falls. Fact is, UK prices have done remarkably well compared to other burst ‘bubble’ nations, and will likely continue to do so in light of unprecedented government intervention, continued mass immigration and a long-term collapse in house building.

• The_UK_is_a_corporatocracy

  ”
  Founded in 1999 and now with over 30,000 members, Assetz for Investors Limited is the leading property investment sourcer that locates and pre-negotiates carefully-selected investment-grade buy-to-let property for private investors”

• daniel.goude

  Is the Independent turning into the Daily Express? Absolutely shocking VI article from a paper that calls itself the ‘Independent’.

• PoorSavings

  Apparently Land Registry (real legal data holders) data support that actual sold prices for June 2012 (latest available) average house price in England and Wales now £161,777. Year on year sales for April 2011-12 were down 19% at 41,422 transactions. London is up June 2011-12 year-on-year 6.3% to £359,476 and south east is up about 1.4% at £209,069 but that is not what the article suggests..unless London2012SouthEast is a new country perhaps? Is this data source from the same LSL in the news that have recently posted a 12% loss in share price and provision for claims against mispriced surveys, and now closing estate agents? Is this an advert or an indy article?

• SteveHampshire

  Is this a serious newspaper? If so, why is it re-printing the most obviously biased and untruthful sales pap?

• Stuartlaw

  The Assetz House Price Watch is a composite of the UK’s leading indices so is their data merged, not ours. Price rises are a fact embedded in data in these indices. It is counterintuitive that housing is exhibiting strength but true and we expect that the slack monetary policy designed to restart UK GDP growth will lead to a relatively strong housing market over the coming years.

• daniel.goude

  Stuart, I can understand your vested interest in keeping the housing Ponzi scheme going, and hats off to you for having the gall to present yourself after such a farcical presentation of statistics. Are we talking asking prices here, or selling prices? Despite the governments desperate attempts to keep the bubble going with QE and ZIRP, the inevitable is happening, despite what you and your fellow VI’s say.

• http://www.facebook.com/profile.php?id=654127245 Ian Powell

  The great thing about high interest rates was the goverment could Tax money at source,,, Instead we have over valued property with a wealth of oversea’s investors who pay little or no TAX… FACT

• Stuartlaw

  Don’t shoot the messenger, this data is from Halifax, Nationwide, Office of National Statistics etc. It’s just that people always quote one off monthly movements from invividual indices and of course with low volumes this is volatile. We consolidate the data to show a clearer multi index picture of what is really happening. Prices are up in 2012 4.7% and it’s a fact taken from these indices. See http://www.assetz.co.uk/data-centre.html?chartID=1