Over the 12 months to November, sales prices have risen by an average of 2% (+£4,617), the highest annual rate of increase seen in November since 2007. Although London has contributed much of this activity, even with the “London effect“removed, prices are still up by 0.2% year-on-year.
Rightmove has also reported an increase in search activity on their own website, up 20%, together with higher levels of enquiries, up 11% on same time last year.
International mortgage consultants Offshoreonline.org’
International property search consultant Erica Evans, of Expatfindaproperty.com, added, “In the more sought after parts of London, such as the South West, West and North West postcodes, we have acted for clients who have been prepared to pay over the asking price. The supply side has become so limited for really good property stock, that sellers can often be pleasantly surprised if two or three buyers enter a bidding war and we have seen the return of sealed bids on at least two occasions recently, with property in Hammersmith and Shepherd’s Bush particularly sought after.”
Data from the UK Land Registry showed annual average prices up 1.1% to the end of September, with London alone up 5.5% over the period. For further information on international mortgages, visit www.offshoreonline.org, for information on UK property search visit www.expatfindaproperty.com