The latest House Price Index, published by property website Rightmove, based on 154,812 properties
marketed since 8th January, shows an increase in average prices of £5,281. The average asking price is now £201,600, the first time prices have ever broken through the £200,000 barrier.
Miles Shipside, Commercial Director of Rightmove, comments "The market's picked up quickly this year. As a result, properties are selling more quickly and stock levels aredeclining. House prices have stormed through the £200,000 barrier to record levels several months earlier than the market anticipated!" For the first time in 11 months, all property types saw prices rising. The largest increases are at the lower end of the market as the recovery is driven by growing demand for terraces and flats.
Agents report increasing numbers of first time buyers, partly assisted by parental help with deposits as well as more flexible lending criteria. More activity from buy to let investors, and downsizing divorcees are also adding to the activity in this sector.
