UK house prices boom in August – with London benefiting the most

Written on 7 October 2014 by Alistair Boscawen in Property News

London homeowners saw their property’s worth increase by £12,279 in August.

Official house price sales soared in August, with the average property increasing by £1,761 – up by one percent over the month, according to the Land Registry. London reaped the most benefits from the boom – with the average price now £467,070 – up by 2.7 percent in August.

Despite the UK capital’s property market is still going, concerns remain over the political and economic situation. These include Ed Miliband’s announcement of plans for a Mansion Tax for properties over £2m at the Labour Party conference. And some say a squeeze on lending will slow the market down.

The Land Registry numbers are based on actual house price sales – and are generally viewed as a good measure of where the market is. News from other indices has been more mixed – although there are still strong indications that prices will continue to rise.

There was an average of 59,556 sales per month from March to June 2013. In the same months a year later, the figure was 71,426.

For more information click on the source below:

This is Money

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen


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