News: Demand from buyers drives up house prices

Mon, 20 Jul 15

Demand from buyers is driving up house prices in England and Wales, according to new research from Home.co.uk.

Demand is predominantly impacting values in the South of England and London, but marketing times continue to fall in most parts of the England, with the average time on market falling to the lowest the site has recorded since 2008.

"The UK property market is in good shape overall," reads the report. "Property supply remains behind buyer demand in most regions as evidenced by falling time on market figures. In Greater London, where marketing times showed a worrying increase earlier in the year, a post-election buyer resurgence has taken up the slack. Only in the North East region, where the recovery is still in its infancy, do we see a significant rise in supply (up 6 per cent compared to a year ago) and this has served to make prices dip this month."

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