House prices started 2018 with a modest 0.3 per cent drop across the UK as a whole, including 0.5 per cent fall in England, according to the latest UK House Price Index from the ONS and the Land Registry.
#England monthly #houseprices fell by 0.5% in January. The average #propertyprice is now £242,286 https://t.co/VBIcxojJba pic.twitter.com/7EQvyCULbx
— HM Land Registry (@HMLandRegistry) March 20, 2018
The first thing we always say about these headlines is that they are averages. They are a reflection of the types of properties sold during that period and it is the change in the mix of those properties that can have a significant impact on the average as a whole.
If there has been a significant number of large and expensive homes sold in the period, it will push the overall average up and so on. I don’t consider these reports to be accurate or helpful.
On the ground, we know that there continues to be a shortage of houses for sale and this lack of supply is outstripped by demand and prices are continuing to push upwards.
We are consistently seeing properties sell for prices at the top end of our expectations and even higher, which is great news for our vendors. Where time allows, as in the vendor is not in a rush to sell, we always look to test where the prices are and to achieve the best price possible.
Firstly, you can get a great price for your house now, quite possibly the highest price your property has ever been worth.
Secondly, if you are looking to move up the housing ladder, the house you want to buy is getting more expensive every day and the gap is widening.
We have produced a video about the cost of NOT moving, we hope you enjoy.
