According to http://www.WheresMyProperty.com, the average asking price for UK residential property rose by 0.8% in December 2006 to £207,933. This brings the rise over the last 6 months to 5.9%, and a rise of 13% for the year.
In December 2006 the average asking price for a detached property was £284,629, a semi-detached £189,600, a bungalow £222,824, a terraced £156,349 and a flat £169,829.
The average asking price in London for December 2006 rose by 1.4% to £348,546 which brings the rise through 2006 to 17.3%. The top five areas with the highest rises were Kensington and Chelsea (+5%), Ealing (+4.1%), Bromley (+3.5%), Hammersmith and Fulham (+3.5%), Kensington and City of Westminster (+2.9%).
House prices are still expected to continue to rise in 2007 albeit at a slower rate as interest rates may rise in next month and households have higher utility bills than the same time last year. However, the economy is growing, employment is rising and there is an ongoing lack of supply.
WheresMyProperty provides up to date asking price analysis for the UK and has around 900,000 property listings from 1000s of property websites. For more information visit http://www.wheresmyproperty.com.
