Report on average real estate prices in the UK in Q1 2013

Growth in asking prices for residential property in the UK is a clear indicator that the housing market is on the road to recovery. Today was released the latest overview of the residential markets for the 1st quarter 2013 large Agency of real estate “Move with us”. The average asking price rose in England to £235101, and in London she made the leap to £ 10000 . The average asking price in London has increased by 2.85% to £368357 over the past three months, despite an increase in newly received objects to the market, which usually pressured prices downward. The time of sale of residential property in London was 40 days less than the national average in March 2013 and remains the fastest in the UK.

In the South-East the average price in January is suspicious dipped to £295798, perhaps it was a reaction to the increase in the number of new objects that appeared in January. But in February, the market seemed to adapt to more competition and the prices have grown to the level of October 2012. In March, prices have steadily moved up and by the end of March, the average asking price increased by more than 1.4% to £ 299934, which is £ 4,000 more than in January 2012. Thus, the South-East has maintained its status as the largest regional housing market in England in Q1 2013.

In the South West the average asking price for residential property declined in January to £ 253524, the reason for this has also been a significant increase in new apartments and houses on the market. But by the end of the first quarter, prices recovered and reached the level of £ 255976 in March 2013.

In the East of England, property prices also showed a positive trend in the first quarter, March showed a price of £ 251519 is the highest average asking price, which saw the region in recent years. The concern is the average time of sale, which increased slightly in the first quarter, but in March the time sales began to decline, and if this trend continues, it will be a signal that Eastern England is adapting to higher prices and competition among sellers, and this means the health of the market.

Prices in middle-Eastern England, following the General trend in England increased slightly by the end of March, reaching a value of £175286, and with care it can be assumed that there are first signs of improvement in the market.

The average asking price in the Mid-West of England hardly reached the level of October 2012 with a figure of £189762.

Despite the fact that more than 4900 new objects were introduced to the market in Q1 2013 Yorkshire and Humber, the average asking price for residential homes in these regions was growing up the whole quart, demonstrating the optimism of sellers and improvement in market. The first quarter ended with a price of £168145, is the highest price since October 2012.

The housing market in the North East of England has not yet shown such confidence. Prices in March did not differ much from the January figures and were even lower than in the fourth quarter of 2012, it barely reached £ 152 350 in March.

The increase in the number of new real estate, for sale, reduced prices and in the North-West, following trends. However, the prices declined slightly, in terms of a strong increase of competition in the market indicates its stability. Average prices remained at the level of £ 171 000.

® Alice Morgan. 25.05.2013