House Prices Go Through The Roof

The average house prices in the UK could hit £300,000 in the next three months, says Rightmove.

16:41 22 September 2015

New housebuyers may have to spend more if they are buying a house in the UK in the next three months. Due to cheap borrowing and inadequate supply, the average house prices could reach £300,000 by December, says property agent Rightmove.

 

The prices have increased by £2550 this month, which is the biggest September rise since 2002.

 

According to Rightmove’s data, the prices has doubled in Surrey, Hertfordshire, and Oxfordshire while the national average is at 1.8per cent this month. Meanwhile, the number of new sellers dropped by 4.9per cent in the north and 7.1per cent in the south.

 

Miles Shipside, Rightmove director and housing market analyst, said: "While we are not suggesting that this level of growth can or will be maintained, this extrapolation illustrates the desperate need for more building and more affordable housing in and around the capital.”