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House prices continue rising

Leasa Foster Leasa Foster
1 min read

There has been a significant rise in the average house price paid by first-time buyers with government schemes such as Help to Buy assisting those looking to buy for the first time.

The figures from the Office for National Statistics (ONS), show first-time buyers paying on average £187,000 in the year to November, up 6.4%. Help to Buy has made mortgages more accessible for many but it has also led to prices going up, especially in London and the south-east, which has seen an 11.6% increase year-on-year. If that area is taken out of the equation, Prices are up by 3.1%.

Richard Sexton, director of e.surv chartered surveyors, said that prices were going up “artificially quickly” because of a shortage of new homes coming onto the market, with first-time buyers bearing the brunt. He said new homes were desperately needed to stop the bottom of the market being priced out completely.

A survey from the property website Zoopla shows that homeowners generally expect house prices to keep on rising throughout 2014. The survey predicts an average rise of 7.2% nationally by the summer, though people in London predict a bigger rise of 9.6%.

https://www.theguardian.com/money/2014/jan/14/house-prices-up-uk-ons

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Winston’s acted for us with our house sale and onward purchase. They have been excellent from start to finish. Leasa is extremely quick to respond to emails and more than happy to answer any questions. The online system is very efficient and helps keep you up to date with progress of the sale/purchase. Leasa and her team made the whole process so much less stressful than it could’ve been and we can’t thank them enough. We wouldn’t hesitate to recommend them.
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