Contact us today

Please enter your first name.
Please enter your surname.
Please enter your telephone number.
Please enter a valid email address.
Please provide some details about your enquiry.

British property prices up £20,000 in a year

HOUSE values have surged ahead by £20,000 in the last 12 months, Britain's biggest building society announced yesterday.

HOUSE values have surged ahead by £20,000 in the last 12 months, Britain’s biggest building society announced yesterday.

The price of a typical home across the UK rose to £188,810 at the end of the third quarter of 2014 - a rise of £19,845 on the same time frame in 2013, reported by Sarah O’Grady in the Express.

Values were up 10.5 per cent on the same three months - July, August and September - last year and up 1.5 per cent compared with the previous three months, according to the Nationwide.

Every region across the UK recorded year-on-year house price gains, from 21 per cent in London to 4.3 per cent in the north of England.

Often cited as more volatile than the quarterly trend, September’s fall of 0.2 per cent was the first month-on-month decrease in more than a year.

Year-on-year house price growth slowed to 9.4 per cent in September, from 11 per cent in August. Year-on-year price growth had previously been hitting double digits since April, according to the building society’s study.

Robert Gardner, Nationwide’s chief economist, said low interest rates and the strong labour market “suggest that underlying demand is likely to remain robust”.

In the North West of England, prices have pushed up by 6.1% annually, while those in Yorkshire and Humberside have seen a 5.5% rise. In the West Midlands and East Midlands, prices have increased by 8.6% and 7.8% respectively.

Newcastle was named as the worst-performing city, with a four per cent annual price increase taking average values there to £182,506. It was followed by Coventry, Leicester, Cardiff and Manchester on the worst-performing list. 

Values in Coventry have edged up by five per cent year on year, while in Leicester they have increased by six per cent and in both Cardiff and Manchester they have lifted by seven per cent.

Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.

For more information, please visit Belvoir! Sheffield or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.co.uk

For the most up to date information relevant to landlords, vendors, and buyers of owner occupied and Buy to let property in Sheffield ensure you follow Belvoir! Sheffield on either Google+, FacebookTwitter or visit our website for property lettings or property sales.

Back to the blog

Related Posts

Coronavirus Information

The wellbeing of our clients, staff and their families - together with continuity of service to clients - is of paramount importance. Outlined below are the precautionary measures we have taken to minimise the risk to our clients, staff and others.

For more information click here

Coronavirus Update Hide