Mark Burns | 28th September 2021
A new report released today has shown that average property prices in the UK are continuing to increase, with properties in the North West of England continuing to outperform the majority of the rest of the country.
The report, released today by the Zoopla property portal states that the price of the average UK property increased by 1.2% in the three months to August, taking the annual rate of property price growth to 6.1%, a significant increase on the previous years figure of 2.8%. According to the data, the price of an average property in the UK now stands at £235,000.
Properties in the North West of England performed particularly well in the past twelve months, with both Liverpool (up 9.8% annually) and Manchester (up 8.1% annually) continuing to deliver strong results for property owners in the region. This strong performance in the leading Northern towns and cities shows a continuing trend of positive growth in areas where affordability is greater.
Conversely, property prices in the London region continue to underperform the rest of the country, with annual house price increases averaging just 2.2% over the same period. However, the report went on to note that buyer demand was showing signs of increasing in the capital, with a 14% increase over the past month. With offices gradually beginning to reopen, and global travel slowly resuming, the report does suggest that the London property market should continue to improve performance over the coming months.
If you would like to find out more detail regarding the report, please contact us today on firstname.lastname@example.org for a full copy of the report.