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Here you can read all my advice, tips and property market knowledge about buying and selling a high value home in the Wisbech Town & Village area

The latest trends in the UK's housing market - October 2017

By Alex at Aboda, Oct 30 2017 10:03PM

House prices


House prices across the UK rose by 5.0% in the 12 months to August according to the ONS, up 0.5% on the revised figure for July of 4.5%.


Economy


The UK economy appears to have held its own over Q3 2017: latest data shows the economy grew by 0.4% over the quarter to end September which is exactly in line with the average quarterly growth rate over the last 3 years. This equates to a solid annual economic growth of 1.5% (latest quarter on the same quarter a year previous).


Transactions


There were 100,850 residential property transactions across the UK in September according to the HMRC, the ninth consecutive month of over 100,000 sales. Transaction volumes have fallen marginally over the past few months with September seeing the lowest monthly total since May.


Demand


The level of mortgage approvals dipped slightly in September although remortgaging figures picked up, indicative of an anticipated rise in interest rates. While lower than in August 2017, the number and value of loans were both higher than a year ago.


Investment


Average rents across Great Britain rose by 1.6% in the 12 months to September, unchanged from the growth recorded in the year to August. The East Midlands region is currently seeing the strongest annual growth in average rents at 2.9%, followed by the South East 2.5%.


Local Market


Over the last 12 full months there have been 886 sales in Wisbech PE13 & PE14. This is a −5% change on the previous 12 month period. The average sales price was £175,603.


We'd love to hear from you at our branch. Get in touch!


Alex Doggett

03333 440773

alex.doggett@abodahomes.com

Aboda Homes

The Elms, High Road

Wisbech St Mary

Wisbech

PE13 4RA








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