Posted on April - 22 - 2010
Region’s house prices drop
Asking price for homes in the north west fell 0.7 per cent over the past month to just under £169,000, according to figures released today.
It was the only region across England and Wales to see a decline, according to data from property website Rightmove.
However, the average price in the region has risen by 5.2 per cent from £160,641 since April last year, said Rightmove.
Nationally, the housing market has showed further signs of a spring revival as asking prices rose by 2.6 per cent over the past month.
Rightmove said the average price of a UK property increased to £235,512 between March 7 and April 10 in a marked improvement of the 0.1 per cent lift seen the month before.
Today’s statistics show the average value of a property is now six per cent higher than a year ago.
The number of new properties coming on to the market also rose sharply, with buyers enjoying the greatest choice since October last year following months of a shortage in supply.
And the government’s new stamp duty fillip for first-time buyers – introduced last month for all properties under £250,000 – provided a boost, as Rightmove noted a 35 per cent hike in the number of property pages viewed over Easter.
The news comes after data from the Royal Institution of Chartered Surveyors showed that selling activity soared to its highest level since May 2007 in March.
But Rightmove warned that the potential for over-supply could see prices come under pressure later in the year.
Miles Shipside, commercial director of Rightmove, said: “With weather disruptions out of the way, more sellers are coming to market and they appear to be ignoring the uncertainties facing potential buyers.”
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