Latest Home.co.uk Asking Price Index report – January 2018 released today headlines ‘Northern House Prices Up.’
In the headlines section Home.co.uk state that: Home prices tick up by the slightest margin this month, taking the mix-adjusted average for England and Wales up 0.1% since December and 2.7% year-on-year.
Home.co.uk reveal that the Midlands and the North are currently enjoying steady price growth whilst falling marketing times show that demand is strong.
Doug Shephard, Director at Home.co.uk said:
“Prompted by several sensationalist headlines over recent weeks suggesting the immediate demise of the UK property market we elected to take the long view this month.
“A 10-year perspective helps put the various trends in the current property market in context. A slowly deflating London market is to be welcomed, as is the steady (non-volatile) growth occurring in many regions. All these current trends lead towards a more stable property market.
“Home price growth in the North will stimulate more investment in regeneration projects and create more much-needed jobs. The North East in particular, probably the last region to still be haunted by negative equity, has the long road to recovery before it.
“Of course, we mustn’t be complacent. Despite these relatively calm waters there are dark clouds on the horizon. At some point interest rates will need to be raised further in order to return to more normal levels. The Bank of England took the first step towards this goal in November, but will doubtless be very careful not to raise them too quickly and cause panic in the markets.”
Read the Home.co.uk Asking Price Index report – January 2018 in full click here.
Author: Allen Walkey
Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.