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Record home price rises (and not just in London)

Alex Johnson

f1ff4a6cbbbe2d64fb005d1832320f81a76d96a9 300x206 Record home price rises (and not just in London)Homes coming onto the market set a new record national average asking price in May, according to Rightmove. This month’s 2.1% (£5,135) rise means the national average is a smidgeon under a quarter of a million pounds at £249,841.

“The tumbling of records is being driven by the equity-rich generation with a definite southern bias,” said Miles Shipside, Rightmove director and housing market analyst, “though agents in most parts of the country are reporting strong demand for well-priced and decent-quality stock. Despite a new national record, it’s not ‘green-shoots of recovery’ across the board, especially for the deposit-strapped mass-market. They must wait patiently until January when the Help to Buy scheme extends to the resale market, unless new homes developers can increase building dramatically this year.”

The average price of property coming to market has risen by 9.1% (£20,852) so far in 2013, the hightest start to a year since 2004.

Rising prices in the capital mean that the average asking price of a newly marketed property in London is at a new record level of £509,870, beating the previous record by £13,572. The city’s best performers in May were Camden, Brent, Lambeth, Southwark and Hounslow.

Most influential estate agents on social media
Zoopla has put together its Property Power 100 which it describes as “a leaderboard for the most influential Estate Agents in Social Media”, calculated largely using Twitter (#ZPP100).

The best day to sell your home
Sadly, according to Carter Jonas, you’ve already missed the best day of the year to sell up which is 18 May. Mark Charter, head of Oxford’s Carter Jonas office explained:  “18 May is midway between the two Bank Holidays, before summer half term when the weather is kindest, with the grass looking lush and weather permitting, the wisteria in bloom. The date fits in neatly with buyers looking to move during the summer holiday, given 8-10 weeks from offer to completion, and should allow good pictures to be taken in late April or early May.”

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