Semi-detached the big winner?
Semi-detached houses rose the most across the nation, with a 6.4% rise since February 2015, increasing to an average price of £180,191. Terraced houses managed just a 5.8% rise in the same period from £135,232 to £143,060. Flats and maisonettes, meanwhile, rose from £172,981 to £183,754 – a 6.2% rise.
It doesn’t matter what the prices are if they are just not selling, of course, and the City of London, Rutland and the Isle of Anglesey are just a few areas where demand has slumped. Wales is suffering in the housing market, despite a spike in prices in some places. It seems the demand just isn’t there right now.
£1 Million+ homes on the rise
With a general increase in prices, it isn’t a big surprise that there was a 2% rise in £1 million+ property sales in the last year, with 1077 homes finding new owners. There were fewer repossessions, too, with 406 per month compared to 771 per month last year.
So the property market is still in a state of flux, but it is generally on the up. So if you’re thinking of getting in to the property market then you should act fast and take advantage of our price comparison service to make sure you get the best possible mortgage and home insurance.