Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Saturday, 7 February 2015

UK house prices rise again

UK house prices on the Halifax measure rose again by 2 percent in January 2015 to be 8.5 percent higher over the year.

To say that the UK housing market has been "two-speed" would be a serious understatement, with London accounting for a huge portion of price gains since 2007 and regional markets floundering.

Over time we do expect capital cities to outperform regions, of course, and even within London the "Prime Central" postcodes have massively outperformed over the past 20 years, thereby once again proving the old adage "location, location...".

However, we have seen on the ground that after an enormous boom in prices activity in London is clearly now slowing.

Average prices in London were up by just 0.2 percent this quarter to be 14.9 percent higher than a year ago.

As expected the areas surrounding London which are easily commutable are now picking up where London left off as price growth ripples outward.

Prices in the south-east region are now up by 14.4 percent over the past year with annualised growth set to overtake that of London in the year ahead.