Land Registry figures show that despite the credit crunch and the threat of a recession some areas in the United Kingdom have been performing well.
Just in the last quarter some areas have seen prices rise considerable, this comes as a surprise to many in such a difficult property market. Especially when you see the top performing region – Kingston Upon Hull!
Yes Kingston Upon Hull has seen average prices rise by 15.1% in the last quarter, now reaching £109,907. Behind this city are Windsor and Maidenhead with strong gains to reach an average price of £451,540 per property. This makes Windsor and Maidenhead the area with the highest priced homes in the country. In third place for quarter rises was Poole, were prices rose 12.7% to a new average price now of £308,684. There were other areas of the country experiencing impressive quarterly rises. Darwen, average price is now £120,703 and in Northumberland homes are going for £189,906.
Annual increases were led by Windsor and Maidenhead where prices have risen by 13.8%. Northumberland came in second place with 11.4 % and coming in third with a bumper third quarter was Hull with an annual increase of 8.8%.
The areas experiencing the greatest increase in sales, (which you probably would have guessed!) was Greater London coming in at 21,701. This was followed by Greater Manchester boasting sales of 8,303, West Midlands had 7,732 and fourth was West Yorkshire with 7,119 sales respectively.
The Land Registry figures show the average house price for the country now sits at £219,262 after a quarterly increase of 0.48%, giving an annual increase of 1.37%. Breaking it down the average for detached houses was £338,378; semi-detached came in at £196,539; terraced houses prices are £174,332 and flats are now on average £204,003. Total sales were £179,141.
Where ever you are looking to buy your new home or looking to remortgage your existing home it is worth using a mortgage broker who will search the whole market to ensure they find the best deal for you. Remortgages are an area more mortgage lenders are offering more than to first time buyers who pose more of a risk. It is very possible that you can find a good mortgage deal and depending on when you took out your current mortgage you can save hundreds on your repayments. Why not search mortgage deals now to see if you can save yourself some money.
