Tag Archive | UK

House Prices in the UK at a Record High

One of the main reasons that fewer houses have been put up for sale in the UK this year are the record average asking prices.

According to property online portal RightMmove, the average price for a home in the UK is now at £286,133-

What is interesting to note is that those new numbers come a month before the nation’s election. If one thing is for sure it is that  those numbers will put pressure on each of the parties. Compared to the last election back in May 5 years ago, property prices in the British capital shot up by a staggering 50%.

It is on that background not surprising that a number of new sellers decreased significantly. Compared to the previous year, this number dropped by 4%. At the same time, those who put their houses up for sale increased prices by 1.6%, accounting for the current record number of £286,133.

It remains to be seen what role the current housing crisis in the UK will play in the final weeks of campaigning. Labour says they want to build 200,000 new homes in the forthcoming years while the Conservatives say they want to extend the Right to Buy scheme.