Rising prices paint positive picture for sellers

People looking to sell UK property will see a benefit from the current trend of rising house prices, with recent figures showing that the average value of a house has increased by 7.71 per cent.

Figures from the Land Registry show that the average price of a house is now £199,184.

Contrary to the trend of London seeing the highest price increases, the north experienced most inflation in property values, with Yorkshire and Humber and the north-west all seeing double digit growth.

Property specialist Assetz points out that this data is demonstrative of the currently strong conditions in the housing market, following the slowdown that was seen last year.

And price increases have been predicted to continue. Christopher Dean, spokesman for the Council of Mortgage Lenders, said: “Our forecasts predict a house price growth of seven per cent this year, three per cent next year and four per cent in 2008.”

Positive developments for people interested in selling UK property were also noted in the fact that there has been an increase of 24 per cent in sales across England and Wales in the past 12 months.

The fruitful sales environment was particularly evident in the capital, where there were 27 per cent more successful transactions than the previous year.

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