The Latest Benham and Reeves house price index looks at the state of the market based on a combined average from the four leading induces; Nationwide, Halifax, Rightmove and the UK HPI/Land Registry.
The Latest index shows that:
- The current overall average UK house price is sitting at £252,487 having increased by 0.3 percent on the previous quarter, up by 0.9 percent in the year.
- In London, the average property value climbs to £513,180 up 0.2 percent on the previous quarter although values in the capital are still down 0.8 percent on the year.
- The Latest quarterly data from Nationwide and Halifax shows that the amount UK buyers are committing to via mortgage approvals has falled by 0.7 percent across the UK.
- The average asking price expected by UK home sellers has also fallen 0.4 percent and is down 0.9 percent in London.
- Overall home sells remain over expectant with the gap between the average mortgage approval figure and the average asking price at 36.5 percent in the UK, this is also evident when looking at the asking prices compared with to sold prices, with the price buyers are willing to pay across the UK still 23.6 percent lower than the asking price.