20th
Apr 2016
A property website claims that the average prices of homes entering into the market has increased once again and are up by 1.3 per cent over the last four weeks.
The website says that one of the main reasons for the increase is the rush of landlords adding to their portfolio before the stamp duty change, the average price of a property stands at £307,033.
Over the last month the properties listed on their site show that on average those ‘homes’ that mostly appealed to first time buyers, had dropped their advertised price by 1.4% - average price £182, 926.
However larger homes comprising of three and four bedroom properties had seen their prices rise by 0.6% in the same period – average price £257,871.
Those properties with five or more bedrooms and detached four bed roomed properties had enjoyed an average 1.9 % increase – average price £546,232.
Over a twelve month period the area with the highest price increase is the east of England, with prices rocketing by 10.8% when compared to prices in April 2015.
Both the south east and the capital were not far behind the market leader, where the average asking price was up by £51,615 in the past year to £646,200. The lowest increase was recorded in the north-east, with an annual increase of 3.5%.
The director of the property website, Miles Shipside, said: “There’s a whole army of aspiring first-time buyers keen to get on the ladder and they now have a 3 per cent price advantage over the formerly more agile legion of landlords, some of whom have retreated for the time being. First time buyers could fill some of the gap but sellers of properties with two bedrooms or fewer need to realise that with less overall demand they need to price cheaper to match first time buyers and highly taxed investors.”
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