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Regional Outlook: Septembers Rightmove price survey

September has seen the average cost of a home in the UK reach £195,407, down 0.4% since August. Here are some of Rightmove’s comments on the regions.

Yorkshire & Humberside ? up 0.9% this month
Yorkshire & Humberside see a reverse in falling asking prices this month, with a rise of £1,262. The average price of a home now stands at £149,327. The rate of annual increase continues to head downwards with a drop to 1.4%.

South West ? up 0.7% this month
Following two months of consecutive falls, asking prices in the South West rose by £1,432. The average asking price of a home now stands at £209,508. The annual rate of inflation falls this month from 0.4% to 0.2%.

East Midlands ? up 0.5% this month
The East Midlands sees average asking prices rise for the second consecutive month, adding an extra £868 to the price of a home. The average asking price of a home now stands at £160,069. Prices remain just 1.6% more than compared to this time last year.

Greater London ? down 0.2% this month
The Capital sees its second consecutive fall in asking prices, with prices falling a further £561 this month. The average price of a home in the Capital now stands at £279,891. The annual rate of inflation continues to recover increasing from 0.7% in August to 1.2% this month.

The East of London has seen a rise in asking prices this month, fuelled by the successful bid of the Olympics.

South East ? down 0.2% this month
The South East has seen a further fall in asking prices this month of £431, bringing the average price of a home to £236,721. The South East are continuing to adjust their prices and are now some £5,642 cheaper than their peak in July this year. The annual rate of inflation has fallen this month to 0.3%.

East Anglia ? down 0.3% this month
Asking prices fall for the fifth consecutive month, representing a fall of £5,529 since their peak in April this year. The annual rate of inflation hits negative figures this month at -0.5%.

North West ? down 1.0% this month
Asking prices reversed this month, a welcome fall for buyers who have seen two months of consecutive rises. The average asking price now stands at £166,510 and is some £1,673 cheaper than last month. The annual rate of inflation continues to fall from 7.9% to 7.8% in September.

North ? down 1.3% this month
The North has seen a reverse in asking prices this month with a substantial fall of 1.3% (£1,908). This brings the average asking price of a home in this region to £146,518. The annual rate of inflation falls this month from 3.9% to just 1.4%.

West Midlands ? down 2.0% this month
The West Midlands sees a considerable fall in asking prices of £3,562, bringing the average asking price of a home to £172,644. The annual rate of inflation has seen a drop from 3.2% to 1.6% this month.

Wales ? down 2.9% this month
The average asking price of a house in Wales dropped to £167,931. The annual rate of
inflation is 5.6%.

Source - Rightmove.co.uk September House Price Survey.


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