HomeOwners Alliance logo

Become a member today to access our home helpline, discounted conveyancing, expert advice & legal service

Pace of house price growth slows over past month but longer term trend of rising house prices set to continue

May 2014 House Price Watch indicates house prices are up 0.3% on average in the past month and up 7.7% in the past year

May 2, 2014

May House Price Watch Average Index

  • Reports suggest the number of housing transactions in March is up only slightly (1.5%) on February possibly a result of a shortage in properties available for sale (particularly in the South) – RICS reported that the average levels of stock are at their lowest point for the last 14 years.
  • The longer term trend of rising house prices looks set to continue as demand for housing is still running at a higher rate than supply (Demand grew by 3.3% this past month with supply up by 1.9% according to Hometrack).
  • The imbalance between supply and demand is reported to be more prevalent in southern regions.  “The additional fresh choice for buyers has been much more pronounced in the north with five out of six regions recording a supply boost of 18% or more.  This has helped to cool price rises… in the northern regions.”
  • Mortgage Market Review measures which place a greater emphasis on affordability are not expected to have an impact on the housing market in the short-term as low mortgage rates and rising consumer confidence are expected to keep demand up.  Nationwide: “Earnings growth is beginning to pick up with wage increases finally outpacing the rise in cost of living in February”.

May 2014 House Price Watch_all indices

Regional Summary – House prices are up in all Southern Regions

  • This month, house prices are up in the South and East, West Midlands and the North East. Prices are down in Wales, East Midlands, North West and Yorkshire & Humber.
  • The region with the most significant annual price increase is London up 12.4% but there are emerging signs of price resistance.  According to Hometrack data, much of the house price growth is coming from lower value London markets that offer relative value for money.  Time on market in London is up from 2.7 to 3.4 weeks over the last month and the proportion of markets registering price gains is softening.regional data

Prefer pictures, see our Infographic.  Or find out how we compile these reports

Like this? Sign up to our free newsletter and get the latest House Price Report delivered to your in-box

 

 

 

 

 

Become a member today

Become a member of the HomeOwners Alliance:

 

✓ To Ask an Expert
✓ Access our Home Helpline
✓ Free Legal Advice Line
✓ Fee free mortgage advice
✓ Discounted conveyancing
✓ Unbiased advice

Join today >

Compare conveyancing quotes in a few simple steps

iStock_000016134021Small-520x280

Simply complete our online form to receive instant quotes from quality assured solicitors and licensed conveyancers, ranked by best price, customer satisfaction rating and location.

Get Quotes Now >

Looking for fee free mortgage advice?

We’ve teamed up with the UK’s leading fee-free mortgage broker to provide you with expert advice.✓ UK’s leading fee free mortgage broker

✓ Compare 1000s of mortgages

✓ Fully qualified advisers

✓ Winner 2014 What Mortgage Awards

Find out more >

Latest Tweets

  • HomeOwners Alliance
    'Tis the season to start saving... save money & energy with our Top 10 Tips! https://t.co/6jj6AV90S5 #savemoney… https://t.co/Cp054l8DWv

    05 December 2016

  • HomeOwners Alliance
    Temperamental heating? Get it working in time for #Christmas with our guide: https://t.co/jFPgCkg9hH #heating… https://t.co/6cyT2Sz5FB

    05 December 2016

  • Follow us on Twitter >

     

×

Don't Miss Out!


Sign up to our free newsletter for latest advice, services and money saving offers

Sign Up Image