Rightmove: March house price report
House prices have levelled out in Dorset and the South West, according to new figures from property advertising giant Rightmove.
It says that the average asking price rose by just 0.1 per cent from March 2018 to March of this year – up to £302,419.
That is well below rises of 3.8 per cent for Wales, 3.4 per cent for Yorkshire and 3.1 per cent for the east Midlands whereas London prices fell by 3.8 per cent and those in East Anglia dropped by 0.7 per cent.
And the average South West home is still the fourth priciest nationwide at £302,419, behind London, East Anglia and the South East.
Miles Shipside, who is a property expert at Rightmove, said: “While March marks the start of spring, temperatures have yet to rise in the housing market.
“Buying activity remains cooler than usual, with hesitation as some buyers await a more settled political climate.
“There’s greater resilience the further away you get from the London market, and there’s a sound bedrock of demand for the right property at the right price, reinforced by ongoing housing needs combined with cheap mortgage borrowing.”
The property market is complex and there are different types of house price indexes: some based on asking prices, others on sold prices, mortgages or official Land Registry figures.
In north, south and west Dorset income levels play a large part in affordability, while continued demand for new homes is important to give housebuilders confidence to develop sites in the area.
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