You are here: Home - News -

September house prices rise after two-month dip: Rightmove

by:
  • 17/10/2016
  • 0
September house prices rise after two-month dip: Rightmove
The price of property coming to market in September rose after two consecutive falls in July and August, driving up the average house price to £309,122.

The Rightmove House Price index reported a 0.9% increase in prices last month  However, this was 0.4% shy of the record set in June in year.

The six northern regions of the country, including North West, North East and Yorkshire, saw an 11% fall in the total number of houses available for sale.

Whereas the south of the country, including greater London, the South East and the South West, experienced a 16% rise in available stock for sale, despite the number of agreed sales down across all four regions by 10%.

Despite the dip, September saw the total number of sales agreed recover nationally after the summer lull and sales were only down by 4% compared to the same time period in 2015, but the number was up 6% on 2014.

source: Rightmove

source: Rightmove

Miles Shipside, Rightmove director and housing market analyst, said: “Agents in the northern half of the country reported a quiet week or two after the surprise result of the Brexit vote, but most then saw a quick return to good levels of buyer enquiries and subsequent sales agreed.

“In contrast many in the southern regions saw more prolonged hesitancy among buyers, with it taking until September before a marked pick-up in activity.”

Shipside was optimistic of the numbers and said it indicted a continued upward trajectory in the price of property in the market but said there was still work to be done to maintain the momentum for the coming months.

“While many properties are still selling, in market sectors where there is now a lot more choice, buyers need enticing by an attractive price or by properties with special finish or appeal. If sellers fail to take this into account, then buyers will choose to buy elsewhere or bide their time,” said Shipside.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Barclays offers free residential surveys on homes worth up to £2m

Barclays has rolled out free valuations for customers taking out a residential mortgage on properties valued up to £2m, in...

Close