House prices continue to rise
Estate Agents - 19/09/2006 16:41:23
Estate agents look to profit after the cost of the average home in Britain has risen by nearly £20,000 in a year.
Prices have increased by ten per cent over the last 12 months, according to property website Rightmove.
The average asking price of a home in Britain is now £215,000 compared with £195,500 in September last year. Homes in the capital have seen the biggest change, going up more than £9,000 in just one month, equal to more than £2,200 per week.
A London home is nearly £330,000 which is a 17.4 per cent increase on last year. Regions in the South of England such as Devon are currently the cheapest places to buy with houses costing around £235,000.
But experts believe that before Christmas, house price inflation looks set to slow down. Miles Shipside, the website's commercial director, said "the 2006 price surge is coming to an end".
"The record price levels seen so far this year were driven by the south of the country.
"With that market cooling and the signals from the Bank of England that interest rates may move up again, sellers may have to reduce their price expectations," he added.
If you want to book a valuation for your property, contact estate agents in your area by searching our online listings.