New figures from the Land Registry indicate that September house prices have risen by 1.1% on annual basis. This brings the average house price to £162,561 in England and Wales. It seems that London Mortgage Brokers continue to see the most mortgage enquiries as the capital has again has experienced the biggest increase in property values which over the last year have movements of 5.5%.
Outside of London, Wales then seen a monthly rise with an increase of 0.50%. The North East has suffered the biggest annual price fall with a decrease of 3.2%.
Zoopla the property website, has reported the average asking price is now £226,369 which seems to highlight the unrealistic picture potential purchasers experience.
The property website Rightmove also indicates that over-priced properties are putting off 62% of home-movers who will no longer go even and view properties because of the inflated price, despite the property fitting their criteria. Rightmove director Miles Shipside said that whilst property sellers may be tempted to price higher believing they are giving themselves some room for negotiation, they are in may cases acting as a deterrent and putting people off, even viewing the property.
