Legal News
House prices rise in southeast, as homebuyers are forced out of London (21 October 2014)
Date: 21/10/2014
New figures from online estate agent Rightmove show that homebuyers who have been forced out of London are fuelling a steep rise in house prices in the southeast of England.
Sky News reports that analysis by Rightmove and Oxford Economics predicts that in the southeast, house prices will rise by 37% in the next five years – with the areas which have good rail links to the capital benefiting most.
Property in London is set to rise by 33% in the same period – with the rest of the UK seeing an estimated 30% rise in house prices in the next five years.
The Bank of England has recently suggested that interest rates are not likely to rise for another year, making buying a house cheaper while mortgage interest rates remain low.
Director of Rightmove, Miles Shipside, told Sky News:
“Those looking for price appreciation in the country should seriously consider the southeast – and some may wish to fine-tune their search to the three top locations of Southampton, Brighton and Luton.”
The figures also show that, in September, sellers were asking on average 2.6% more for their properties than in August.
The average asking price for a home is now £271,669, says Rightmove.
Duncan Lewis Housing Solicitors
Duncan Lewis housing solicitors are a leading firm of Legal Aid lawyers and are able to advise homeowners on a range of matters such as debt management and mortgage repossession.
Duncan Lewis housing solicitors also offer efficient and competitively-priced conveyancing services to homebuyers.
For expert legal advice on housing matters for homeowners and conveyancing services for homebuyers, call Duncan Lewis housing solicitors on 020 7923 4020.