The Land Registry said that In the capital values rose 9.6 per cent compared to September 2014, meaning the average property now has a price tag just £3 short of £500,000. Although house values have continued to go up across London, the rate of growth has been slowing since a peak last summer. At one point, prices were soaring by an annual 20 per cent.
Property prices will jump nearly £60k over next five years to top £320k by 2020, says economic forecaster
Cebr said that house prices in 2015 are set to be 5.6 per cent higher compared with average prices across 2014 - and the average UK property value will stand at a record high of £263,000 this year. Prices are expected to be 3.5 per cent higher in 2016 than they were this year, with further annual increases of around 4 per cent in the four years that follow. Cebr had previously predicted that house prices would increase by 4.7 per cent annually in 2015.
MORTGAGES & PROPERTY ESSENTIALS
MORTGAGES, HOUSE PRICES & PROPERTY NEWS
Online estate agency wars continue to heat-up as easyProperty launches chance to sell your home for just £475
Sir Stelios Haji-Ioannou's easyProperty offers homeowners the chance to sell from £475, now it must win sellers from rivals and High St agents. Its dip into the residential sales market comes as more people are tempted into listing their home with an online agent , with brands such as Emoov, Purple Bricks, HouseSimple and Tepilo offering services that undercut traditional agents on price.
First-time buyers urged to win 'hearts and minds of sellers', as lack of homes for sale sends prices up £16k in a year
First-time buyers face having to find an extra £16,000 to get onto the property ladder compared to a year ago. Prices have been pushed up as potential homeowners go head-to-head with buy-to-let landlords for a limited number of suitable properties available, property listing website Rightmove warned.
'Buy-to-let tax move is a game changer and we're not building enough homes' - TV star Phil Spencer reveals his thoughts on Britain's property market
Phil Spencer is a rock 'n' roll star of property television. He can be found with his sidekick Kirsty Allsopp on Location, Location, Location and riding solo on his Secret Agent show. He talks to This is Money about current problems facing the British housing market/ Does he believe in house price indexes, are we building enough homes and is buy-to-let booming too much?
The key to selling a house quickly? Tidy your garden and brush up your manners, poll of buyers reveals
Property sellers hoping to receive a quick offer on their home should brush up on their manners, make sure their garden is looking good and stick on a fresh pot of coffee. The seller's personality can be a crucial factor in boosting - or reducing its appeal - a survey of home buyers by Sarah Beeny's online estate agent Tepilo has found.
Ever dreamt of owning a home abroad? Here's how to do it - from mortgages, to tax and the legal traps
Owning a property in sunnier climes is a dream realised by thousands of Brits each year - and with keen prices and a strong pound there are bargains to be had. But hurry, because these will not be around forever as economic recovery spreads across Europe. Paul and Caryn Hughes bought a home in Portugal.
MORTGAGES: WHAT YOU NEED TO KNOW
Beginning of the end for the cheapest ever mortgage rates? Rock bottom five-year fixes are on the rise as rate rise looms closer
The cheapest five-year fixed rate deals have disappeared ahead of the first interest rate rise in more than six years, but rates remain near highly competitive. Speculation over an upcoming interest rate rise in the UK has heightened, and accordingly the rate-cutting trend seems to have abruptly come to an end.
Want to buy a home with a small deposit? Here's how to get the best mortgage and avoid the traps
If you have got a five per cent deposit and are hoping to buy your first home this autumn, the good news is that there are still plenty of low rate mortgages on offer. The bad news is that first-time buyer deals can be hard to get, so applicants may have to do some fancy financial footwork to ensure their mortgage gets approved. Sarah Drewery and Ryan Fletcher, pictured, got £1,000 cashback.
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PROPERTY: DON'T MISS
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- We want to downsize but it's too expensive Older homeowners told to make space for young families are locked out by high prices
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- Ten tips for buy-to-let The essential advice for property investors
Latest: Mortgages & home
- Why cheap mortgage rates aren't always best: Deals with smaller fees, freebies and cashback could save you more than £1,500
- Britain's property market isn't in a bubble, academics claim – but London is on the cusp of one... and it could blow up in 2017
- What next for mortgage rates? Lenders cut fixes again as interest rate rise drifts once more
- Do cheap mortgages really mean now is the best time in years to be a first-time buyer (unless you live in London)?
- Homebuyers should be warned over flood risk to a property before they purchase via traffic light-style system, industry body says
- Sales of costliest houses dry up as top rate of levy on property soars: Proof that stamp duty hike brings in LESS for Treasury
- Average UK house prices surges by another £7.5k in one year and will soon pass the £200k mark
- House prices up 5.3% in a year as London market reignites with average property now costing £500k
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