House Prices Continued To Rise In November 2006
Released on = December 14, 2006, 12:41 pm
Press Release Author = Susy Copus
Industry = Real Estate
Press Release Summary = The asking prices of residential property in the UK in November 2006 has risen by an average 0.4%, down from 1% the previous month.
Press Release Body = According to http://www.WheresMyProperty.com, the average asking price for UK residential property rose by 0.4% to 206,382. This brings the rise over the last 6 months to 7.5%, and a rise of 12.1% for the year so far and 13% over the last 12 months.
In November 2006 the average asking price for a detached property was 282,942, a semi-detached 188,109, a bungalow 221,786, a terraced 155,449 and a flat 168,620.
The average asking price in London for November rose by 0.9% to 343,880 which brings the year so far to a huge 15.8%. The top five areas with the highest rises were Camden (+3.6%), Brent (+3.4%), Bexley (+3.3%), Hammersmith and Fulham (+3.2%), Kensington and Chelsea (+3.1%). House prices are expected to continue to rise in 2007. Interest rates may have peaked at 5%, the labour market is stable, the economy is strong and there is a continuing demand for property. Affordability seems to be the main factor that could stem growth, but with the wide choice of mortgages such as interest only, part repayment/part interest and 30 year terms there is flexibility to suit different budgets.
WheresMyProperty provides up to date asking price analysis for the UK and has around 900,000 property listings from 1000s of property websites. For more information visit http://www.wheresmyproperty.com.
Web Site = http://www.wheresmyproperty.com
Contact Details = http://www.wheresmyproperty.com
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