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Property market shows first rise in Eighteen months.

House prices moved up for the first time in 18 months, according to Hometrack’s December survey…
A marginal rise of 0.1 per cent during December saw the average house price in England and Wales edge up to £160,900.

Price increases were recorded in nine per cent of postcode districts with falls seen in just six per cent. The majority of postcode districts (84 per cent) remained unchanged.

The North was the only region to record a fall in house prices during December (-0.2 per cent). Four regions were unchanged and four saw slight 0.1 per cent rises: East Anglia, the East Midlands, the South West and Yorkshire & Humberside.

Greater London recorded the biggest increase of 0.3 per cent. Within the capital, Central London and City performed best, jumping by 1.4 per cent.

This area covers the residential markets next to the major employment centres of the West End, Canary Wharf and the City.

East London recorded a 0.5 per cent rise, North West London 0.4 per cent and North London 0.3 per cent.

Outside London, South Lincolnshire performed well with a 0.6 per cent monthly rise. With a slide of -0.6 per cent, Shropshire was the worst performer in December, followed by East Sussex, North Lincolnshire and Tyne and Wear (all -0.3 per cent).

Todd Lewis of East Anglian Estate Agents BYchoice commented ” whilst prices are stable, market confidence is strong, and contributing to a healthy market.

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