The national Hometrack October survey of the housing market reports a 0.4% rise in house prices for the second month in a row, confirming a recovery after several months of stagnation.
Highest rises are concentrated in areas of the North and Midlands, with the lowest rises mostly in the South. Places showing the highest price rises are Hereford and Worcester, the East Riding of Yorkshire, south Lincolnshire and Leicestershire. Only three areas registered price falls – north-west London, Buckinghamshire and Northumberland. The 10 regions with the highest price rises have an average price of £114,790 whereas the 10 regions with falling prices or low rises have an average price of £187,080.
So Mortgage Strategy asks – what's happening to house prices in your area?
Rob Clifford, managing director, Mortgageforce “In Derby we're experiencing growth of 10-15%, but things are flattening nationally.”
Phil Ambler, broker, Goodmortgages “Prices in Chesterfield are rising but much slower than six to seven months ago. We've seen a 2% rise in the past four months.”
Mike Fitzgerald, sales director, Brent-chase Financial Services “Brentwood in Essex was a hotspot last year but prices are stable now. We haven't seen a rise but with good schools and links to London, we don't see a problem.”
Kevin Morgan, managing director, EZI UK “There have been modest falls in Hertfordshire. Year-on-year prices are down 10% which suggests reality is creeping back into the market.”
Darren Gardner, mortgage specialist, Chamber Morgan James “Wales is still buoyant with three of the top 10 hotspots being in this area. Houses are selling quickly and for the asking price.”
Stephen Conlan, Alexander Stephens Estate Agents “Prices are stable in Bedfordshire and Milton Keynes but homes marketed at the wrong price will just not sell. A lot of new buyers appeared in the market going into October.”
Jim Atkins, Atkins Estate Agents “In Bournemouth and Dorset prices have been on a plateau but sellers are not realising the market is price sensitive. Buyers have a good choice of properties so overpriced houses won't attract viewers.”
Mike Skelton, Promark “The market continues to forge forward in East Yorkshire. Sales are fast at the lower end of the market with the effect of a continuing imbalance in the level of supply and demand.”
Carl Melvin, managing director, Millbrae Financial Services “East Renfrewshire is a popular suburb of Glasgow and we have seen rises of about 1% every month recently. Prices are rising due to a large number of high net worth clients looking in the area.”