Some Areas Still Fare Well For House Prices
Land Registry figures show that there are still some regions which have been performing well in the difficult property market, even in the last quarter. Some of the areas showing up well may come as a surprise.
Land Registry figures show that it is not all bad news in the property market, though no one should pretend that the market is buoyant. Despite the credit crunch and the threat of recession some areas have still been performing admirably well.
The region with the highest rising prices in the last quarter may come as a surprise. Rather like its own football club, the city of Kingston Upon Hull is on the up. Average prices in the city have risen by 15.1% in the last quarter, now reaching £109,907.
Behind Hull is Windsor and Maidenhead, with a quarterly rise of 13.4% to a royal average of £451,540 per property, which is the highest average priced area in the country.
The region with the third highest rising prices in the last quarter was Poole, with a rise of 12.7% to an average price of £308,684.
Other areas with good quarterly rises were Blackburn with Darwen (9.1% to £120,703) and Northumberland (8% to £189,906).
The area (counties in this case) with the greatest sales volume was Greater London with 21,701 in the last quarter. Next was Greater Manchester with 8,303. West Midlands had 7,732 sales and West Yorkshire had 7,119 sales.
In terms of annual increases Windsor and Maidenhead led the way with an increase of 13.8%. In second place was Northumberland with an annual increase of 11.4%. Boosted by its excellent last quarter Hull was third with an annual increase of 8.8%.
Overall figures for the country were a quarterly increase of 0.48%, meaning an annual increase of 1.37%. The cost of an average house was £219,262, according to Land Registry figures. Detached houses averaged £338,378; semi-detacheds were £196,539; terraced houses had an average of £174,332; and flats averaged £204,003. Sales totalled 179,141.
