News
New house price record - Wales & the North lead the way
The RightMove House Price Index gives a national picture of house prices and activity over the past few weeks. Here's the key news for May 2021...
- New records continue to be set as the average price of property coming to market this month jumps by 1.8% (+£5,767), to a third of a million pounds (£333,564)
- Average London house prices are 2.9 times higher than prices in the northern areas of Great Britain, and although still large this is the smallest ratio recorded by Rightmove since 2013
- While London prices have stood still (+0.2%) since the first lockdown, areas further north have seen double-digit increases, due to the shortfall in supply that suits people’s changed needs and lives:
- Wales leads the way at +13.0%, followed by North West (+11.1%), and Yorkshire & the Humber (+10.5%)
- The north sees greater imbalance between demand and supply than London, with people more likely to move locally and some more able to afford to upsize
James Williams
17.05.21
