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Spring 2016: House Prices Rise & Properties Earn £19,000 for Owners

This March, house prices increased at a record-breaking rate of nearly 7%, offering homeowners capital appreciation of just under £19,000 year on year, according to a new report.

UK Fourth Best for Residential Property Investment

This March, house prices increased at a record-breaking rate of nearly 7%, offering homeowners capital appreciation of just under £19,000 year on year, according to a new report.

Estate Agents Your Move’s newest report shows strong growth in property values for the month of March, with house prices increasing by up to 6.9% annually – the highest increase since February 2015 – with the typical home now valued at £18,745 more on average than in March 2015.


The highest increase in property value was recorded in the capital; as the London market saw a price increase of 8.2% year-on-year, with the average property price increasing by £44,548, making the average property price in the capital £588,027.


Although the capital has seen the highest rise in property value, the report highlights that home values all across the UK are increasing at an exponential rate, with 73% of local authorities in England and Wales experiencing a rise in property prices in March.


As Your Move’s director Adrian Gill affirmed, the rapid acceleration in house price growth and the record number of property sales, which saw 80,000 properties being sold in March, resulted from the impending stamp duty hike rushing investors to complete their purchases.


Earlier this month in fact, figures confirmed landlords rushed to beat the new stamp duty before the April deadline - with more than 50% of homes bought by landlords in March.


Although the market is expected to cool in Q2 following the surge of purchases ahead of the new Stamp Duty levy’s introduction, the current supply and demand imbalance is expected to continue, with a recent study finding that for every property entering the market, there are 12 investors competing to purchase it.