UK house prices: More expensive properties take up growing share of market
More high-end properties are now entering the housing market than at any time in the last four years, according to a report released this morning.
Figures from Experian show that the number of homes entering the British housing market worth over £500,000 is up by 29.9 per cent. The number of houses in the bracket for sale in London has grown even more quickly, up by 50.7 per cent in the last 12 months.
Lower-priced houses are becoming much less common in comparison in the capital. The number of homes for sale worth between £100,000 and £250,000 fell by 37.6 per cent during the same period, despite rising by 2.3 per cent across the UK as a whole.
“The growth in houses prices suggests that homeowners may have made reasonable capital gains on their existing properties, especially as they seek to move up the property ladder,” said Experian’s Jonathan Westley.