The rightmove.co.uk House Price Index (HPI) recently released shows not only an increase in asking prices between March and April, but also an increasing disparity in London and now the South West.
Rise of 2.9% (£6,798) in April helps national new seller asking prices to reach an all-time high of £243,737, beating the previous record set nearly four years ago in May 2008 by 0.5% (£1,327)
London prices have seen a 14.9% (£60,403) increase since the national peak in May 2008 – however new sellers’ average asking prices in the rest of the country have fallen by 4.3% over the same period
Since the previous record high in May 2008, the four best performing regions in terms of price are in the south – both the ‘fresh-stock starved’ London and South West regions set new records this month while the South East and East Anglia are currently just 0.3% and 1.1% off new record highs
New national record should be considered against retail price inflation of 11.5% since May 2008, meaning that national average asking prices are still down in real terms by 9.9% over the period