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House Prices are rising by £200 a day – November 2013

Homes across England and Wales are worth 3.1 per cent more than a year ago. In the past four weeks alone, the value of the average property has soared by £6,923 (more than £200 a day). A typical three-bedroom semi is now worth £252,418.
There is still such a shortage of supply – with buyers flooding the market thanks to the Government’s Help To Buy scheme – sellers are almost always getting their asking price. The proportion of the asking price achieved was 95.2 per cent in October, up from 94.7 per cent in September. This is just half a percentage point off the record 95.7 per cent at the height of the property boom in 2007.
As the resurgence continues, Halifax has also revealed that a record seven out of 10 Britons think house prices will continue to go up over the next year. The biggest increases are in London, up 0.8 per cent month-on-month with sellers typically achieving 97.2 per cent of their asking price.


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