Fewer properties for sale at the beginning of the year saw house prices increase 0.5% in January, so claims online estate agent Rightmove.co.uk.
January saw a three year low in properties available on the market place, with average property values being pushed up to £222,859, 13.5% higher than January 2006.
That makes it the highest annual house price increase since October 2004.
Estate agents stock levels are low, lower than the last three years, as well as being 18% lower than January 2006.
As long as there are property shortages, despite price increases, properties will sell.
Even the latest interest rate rises over the last five months are highly unlikely to affect property sales. Asking prices are higher than ever in 70% of the UK.
The north-west, Humberside and Yorkshire as well as the East Midlands have only witnessed decreases in prices of 0.5%, 2.2%, and 1.6% respectively.
By contrast house prices rose fastest in Wales (up 3%), the West Midlands (up 2.4%), and the north (up 2%).
House prices are the cheapest up north at £153,610, with London prices being most expensive at more than double that amount at £356,192.
Internal to London the city of Westminster increased fastest in December 2006, by 5.1%, with Tower Hamlets performing the worst with a decrease of 6.6% in the last month.
 |
| Property Guides |
Buying property |
| Find Property in the UK |
| My estateagents | |||||
|
Fewer Properties Drive House Prices Up Further
Mon, 22 Jan 2007
Recommended links
House Price Growth Picked Up In NovemberHouse Prices Go Up 78%
First Homes 230 Per Cent Less Affordable Than 1996
Property Prices Soar in the South West of England
House Prices Are Still Soaring
| Bookmark: |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| Estate Agents news |
|---|
| Britains Housing Market Decline To End Next Year - Wed, 09 Jul 2008 |
| Insomnia rife in estate agents - Fri, 04 Jul 2008 |
| Estate agents need regulation - Fri, 27 Jun 2008 |
| More News |
