The Perfect Time to Sell your Home? UK House Prices are on the Rise
If you are a UK homeowner looking for someone to buy your house then now could be the perfect time to sell your home. According to figures released by the Office of National Statistics, house prices rose across the whole of the UK by a huge 9.6% in the year to March 2015, up from 7.4% in the year to February 2015.
It is believed that the increase in UK house prices was partly driven by the annual house price inflation of 14.6% in Scotland (up from 5.3%). This is the largest annual increase in Scottish house pieces since July 2007 and the number of mortgages for sales in Scotland increased by a huge 50% between February 2015 and March 2015. A large number of these include houses costing more than £500,000. The ONS also note that: “The Land and Buildings Transaction Tax replaced UK stamp duty land tax in Scotland from 1st April 2015, which may have had an impact on the increase in prices.”
The 14.6% in Scotland is higher than increases across the rest of the UK in comparison to a 9.4% increase in England, 5.7% in Wales & 7.5%. The increase in England was driven by substantial increases in the East (11.4%), London (11.2%) and the South East (11.2%).
The ONS states that this is the first increase in the pace of annual UK house price inflation since September 2014. The average UK house price in March 2015 was £273,000.
Average house prices increased by 1.1% between February and March 2015 on a seasonally adjusted basis. If you are a first time property buyer who has recently purchased a new property, then you may be aware that prices paid by first-time buyers were on average 7.8% higher on average compared to March 2014.
Despite the fact that there has been an increase in house prices across the whole of the UK, property prices in London continue their trend of outpacing the rest of the country with the average house in London now being a whopping £498,000. If you are currently considering moving out of the capital and are looking for a quick house sale in London then give National Homebuyers a call and take the stress out of selling your property.
National Homebuyers – We Buy Any House
National Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat or bungalow we will buy it!
If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.
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