It seems house prices in the UK are on the up with the Rightmove house prices index posting another monthly increase in March, up by 0.8%. The results mean that annual UK house prices accelerated to 0.9% in March from 0.3% in February, the strongest pace of growth since November last year. At same time indications that British consumer confidence is at an all time low.
The increase in asking prices might be considered as a good sign for the UK housing market, today's Rightmove report highlights that "the market is still restrained by low transaction volumes and restricted liquidity".
Consumer confidence has recently hit new record lows as households are worried about their financial conditions and the outlook for activity. Credit conditions also remain very tight and we don't anticipate any improvement in the near term.
The number of unsold homes per real estate agent rose to an average of 70 from 69, according to Rightmove. Shipside said the lack of market liquidity is building up a “legacy of longer- term problems.”
In London, the average asking price fell to 424,307 pounds this month. Values in Bromley, south London, and Ealing, in the west of the capital, dropped 5.1 percent, the report showed. Prices in the exclusive Kensington and Chelsea area fell 5 percent. Over the first quarter, overall London values increased 3.8 percent from the previous three months.
Recent surveys by Family Investments reflect the mood of the consumer after a survey of mothers found that 18% expected to reduce their pension contributions and 21% think they will not be able to save for their child's future.
They blamed the situation on the rising cost of essential items, such as utilities, transport, food and housing.
source: www.thelittlehousecompany.co.uk
With branches across the UK our national network enables us to deliver a personalised moving service throughout the country.
It doesn’t matter if your business is moving to different floor in the same building or the other side of town.
Stay in Touch