20 May

Price rises push some areas to record highs

Price rises push some areas to record highs

The cost of buying homes through estate agents across the UK is rising again, pushing some areas to reach new record highs, according to new findings that have been published by Rightmove.

The organisation said that the last month had seen prices go up by 2.1 per cent on average nationally, allowing East Anglia, London and the south-east to reach new highs, with the mean price across the UK as a whole sitting at  £249,841 in May.

Part of this could come down to the continuing positivity coming from governmental help that has been in evidence across the UK since the introduction of the Funding for Lending Scheme (FLS) last summer, which has allowed banks to lend without such strict conditions, especially to first-time buyers.

London still remains the area of the UK with the highest cost of purchase, and average asking prices in the capital now sit at £509,870, over half a million for the first time.

However, it was the north that surprisingly saw the strongest monthly growth according to Rightmove, with this region seeing prices going upwards by 4.2 per cent in the last month.ADNFCR-1222-ID-801587500-ADNFCR

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