ONS stats show UK house sales reach price peak
According to ONS, the most recent house price peak in England was January 2008, but with today’s average house price coming in at £255,000, there is an increase of 0.9% on the 08 figures.
London saw the largest increase in prices, with a 9.7% increase in the 12 months to July, while the South East saw the next highest increase as house prices went up by 2.6%.
These figures appear to back up recent claims that house sales in the South East, and particularly in Chichester, are the most expensive in the country outside of London.
However, despite the all-time high in property values, buyers are still out there and property is in huge demand.
London estate agent Peter Rollings said, “In the three months to June, we recorded 11% more buyers entering the market in competition for 14% fewer properties.
“Property is changing hands in record time and for close to the asking price, with 98% regularly being achieved.”News