Record High House Prices

In the latest reports conducted by Halifax, house prices have risen for the 6th consecutive month, up 1.1%. The report concludes: “A lack of available homes for sale, and historically low mortgage rates have also helped drive annual house price inflation to +9.8 per cent, its highest level since July 2007." The average price of a home is now at the highest it's been in 14 years with the average price being £276.091. This is a 9.8% increase.

The Chief executive of Property mark has stated “Our housing market report for November revealed a 12% increase in the average number of registered buyers, but the lowest number of homes on the market per branch ever recorded. This indicates fierce competition and a huge gap between supply and demand’.

Be on your toes and move quickly, was the message from Rightmove this morning as the portal reveals that we are now in the midst of the fastest-selling market since their records began.