More positive news for the Hampshire housing market

The recently published Housing Price Index has shown more positive news for home owners across Hampshire.  Paul Winslade, Residential Property Partner, reveals the latest figures and what this means for the property market in the South.

House Price Index April

The UK House Price Index is used to provide a detailed summary of recent house price statistics.  “The most recent report, which reflects average house prices through the year to April 2017, shows that there has been a 5.6% increase, which is an increase from 4.5% in the year to March 2017” begins Paul.  “In April 2017, the average UK house price was £220,000, which is up £12,000 compared to April 2016, and an increase of £3,000 on March 2017.”

The UK House Price Index also reveals regional housing price trends.  “When considering the South of England, the South East has an average house price of £315,000,” continues Paul.  “The area comes second only to London where the average house price is £483,000.  In the meantime, the South West came second also, but this time in terms of the highest yearly growth, growing by 6.8% in the year to April 2017.”

Paul concludes, “The last twelve months have certainly had their challenges for the housing market, first with changes to Stamp Duty Land Tax, then the EU referendum result, and now we are dealing with the fallout from the General Election.  We are encouraged however to see that these factors have not impacted the property market as expected, however it is important that appropriate focus is given by the Government to providing adequate and affordable housing.  While some may view rising house prices as a challenge to them getting onto the property ladder, it is positive news for the market overall, and there are more and more schemes available to first time buyers to help them make that exciting move to property ownership.”

To find out more about the Government Help to Buy Schemes available you can visit the website here, or to enquire about how Warner Goodman can help with your next move, contact the team by emailing conveyancingquote@warnergoodman.co.uk. 

ENDS

This is for information purposes only and is no substitute for, and should not be interpreted as, legal advice.  All content was correct at the time of publishing and we cannot be held responsible for any changes that may invalidate this article.