At Secure My Sale we are always looking to pass on relevant information about the market to our customers and future customers. One of our property portals On the Market has analysed asking prices for properties across England and Wales to discover which region has seen the biggest increase since the housing market re-opened in May.
The data, which looks at the average asking price for two-bedroom flats and three-bedroom houses across the regions, shows that asking prices in Yorkshire and The Humber have risen by more than any other region since the market re-opened.
The study suggests some buyers are prepared to go further afield for better value as they strike a new work/life balance.
Based on the figures, provided by OnTheMarket, the average asking price for a two-bedroom flat in Yorkshire rose 10% to £153,354 in the week beginning 28 September from £139,404 in the week starting 18 May.
For three-bedroom houses, Yorkshire also experienced the biggest rise over the same period, increasing 8.4% to £186,045, as the below charts show.
Although the change in asking price does not necessarily show that underlying prices have moved, the fact Yorkshire tops the table for flats and houses is a trend worth noting.
Asking prices for two-bedroom flats in London dropped by 4% over the corresponding period, which was the weakest performance for the property types analysed.
While it suggests that buyers in the London are looking for more space, a rise in the asking price of three-bedroom houses in the capital demonstrates the story is more nuanced than one of buyers leaving the city.
|Two-bedroom flat||Average asking price w/c 18-May||Average asking price w/c 28-Sep||% change|
|Yorkshire and The Humber||£ 139,404||£ 153,354||10.0%|
|West Midlands||£ 154,085||£ 163,448||6.1%|
|Wales||£ 143,465||£ 151,256||5.4%|
|South East||£ 254,066||£ 267,346||5.2%|
|East Midlands||£ 136,961||£ 144,073||5.2%|
|North West||£ 143,448||£ 149,660||4.3%|
|East of England||£ 234,514||£ 243,793||4.0%|
|South West||£ 209,410||£ 217,363||3.8%|
|North East||£ 100,271||£ 102,596||2.3%|
|London||£ 585,521||£ 562,373||-4.0%|
|Three-bedroom house||Average asking price w/c 18-May||Average asking price w/c 28-Sep||% change|
|Yorkshire and The Humber||£ 171,688||£ 186,045||8.4%|
|North West||£ 186,555||£ 199,319||6.8%|
|North East||£ 130,895||£ 139,376||6.5%|
|Wales||£ 168,370||£ 179,053||6.3%|
|London||£ 600,565||£ 632,616||5.3%|
|South East||£ 377,355||£ 389,063||3.1%|
|East Midlands||£ 213,338||£ 219,498||2.9%|
|West Midlands||£ 230,259||£ 236,720||2.8%|
|South West||£ 294,231||£ 299,761||1.9%|
|East of England||£ 320,126||£ 325,121||1.6%|
If you are thinking of selling give us a call Secure My Sale for your FREE market appraisal on your property or even if you’re just curious as to its current value we’re here to help 01476 825258 or visit our website www.securemysale.co.uk
Or use our FREE ONLINE VALUATION tool and get a price in minutes CLICK HERE