Asking prices in July increased 3.7 per cent annually, the largest yearly rise since December 2016, data from the Rightmove House Price Index showed.
Compared to March, UK average asking prices have grown by 2.4 per cent from £312,625 to £320,265 in July.
Regional prices
Scotland saw the biggest change in price since March, with a 4.5 per cent increase to £166,322, followed by Yorkshire and Humber which saw a 4.1 per cent increase to £204,050.
London prices saw the smallest change since March, with prices rising by just 0.5 per cent to £641,854.
Miles Shipside, Rightmove director and housing market analyst, said: “The unexpected mini-boom continues to gather momentum as more nations reopen.
“The busy until interrupted spring market has now picked up where it left off and has been accelerated by both time-limited stamp duty holidays and by homeowners reappraising their homes and lifestyles because of the lockdown.”
“These figures are the earliest indicator of house price trends. They show on average prices gently rising not falling, and this will be reflected in the coming months in other house price reports,” he added.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
