According to LSL Property Services, last month was the strongest
September since 2007 for home sales, with a distinctive divide between
the north and south transactions.
A shortage of stock on the market in the south is slowing activity but
increasing the prices. Less expensive areas in the north regions are
experiencing a fast growth in property sales.
Overall, average house prices across England and Wales have risen
£11,500 in the last year, after almost 4 years of annual growth.
September’s monthly price increase takes property values to a record
£284,742.
A spokesman from LSL says: “The most frequently paid property price
across England and Wales is just £125,000, mirroring the level at which
stamp duty becomes payable, and reflecting the impetus that has been
injected in the first-time buyer market recently.
—>
“It is also the lower to mid-range properties priced between £180,000 and
£360,000 which are seeing the fastest increases in value, while the shift in
stamp duty bands continues to slow growth at the higher end of the
market, and prices above £600,000 are largely stationary.
