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House prices booming in Midlands.

THE average price tag on a home coming freshly onto the market jumped by over PS2,800 in May.

Average asking prices in the West Midlands are now PS232,247 - three per cent higher than a year ago.

Across Britain, the average asking price is PS308,290, some PS2,841 or 0.9 per cent higher than in April, according to the figures from Rightmove.

The website, whose records go back over a decade, said Wales, the Midlands and the North West of England are "bucking any Brexit blues", with average asking prices in these areas having reached new all-time highs.

Miles Shipside, director of Rightmove said: "Price increases are the norm at this time of year, with only one fall in the last 10 years, as new-to-the-market sellers' price aspirations are underpinned by the higher buyer demand that is a feature of the spring market.

"Indeed the 0.9 per cent monthly rise is consistent with the previous two years' average rise of 1.0 per cent over the same period."

He said that will seem inconsistent to some people, given the ongoing uncertainty of Brexit, is that four out of 11 nations and regions have hit record highs for new seller asking prices.

By contrast, London and its surrounding commuter belt have seen year-on-year falls in average house asking prices.

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Publication:The Birmingham Post (England)
Geographic Code:4EUUK
Date:May 23, 2019
Words:222
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