(1888PressRelease)
September 06, 2006 - According to http://www.WheresMyProperty.com, the average asking price for UK residential property rose by 0.8% to £193,388. This brings the rise over the last 6 months to 6.1%, and a rise of 5.1% for the year so far and 4.7% over the last 12 months.
In August 2006 the average asking price for a detached property was £266,736, a semi-detached £176,922, a bungalow £209,351, a terraced £145,825 and a flat £157,267.
The average asking price in London rose by 1.1% to £314,830. The top five areas with the highest rises were City of London (+6.1%), Kingston upon Thames (+5.5%), Richmond upon Thames (+2.9%), Newham (+2.6%), Bromley (+2.5%). The losing areas were Lambeth (-1.7%), Merton (-1%), Hammersmith and Fulham (-1% ), Hounslow (-3%) and Southwark (-3.4%) and Enfield (-3.7%).
Although the UK interest rates were raised to 4.75% from 4.5% in the early part of August interest rates are historically still low and there is still a steady housing demand especially in the investment sector. House prices are therefore expected to continue to rise slowly over the remainder of the year.
WheresMyProperty provides up to date asking price analysis for the UK and has around 900,000 property listings from 1000s of property websites. For more information see their website at http://www.wheresmyproperty.com.
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