The value of homes in the UK are due to rise £46 a day throughout 2016.

Wimbledon house prices set for further rises The prediction follows the release of a report by property website Rightmove that shows average asking prices ended the year about £20,000 higher than at the start of 2015 – a rise of £1700 a month.

And London property prices fared even better.

While the asking price for homes in London slipped 0.5% this month compared with November, it was the smallest December dip since 2008 and took asking price growth in the capital to 9.9% annually.

In the capital, asking prices are typically £55,458 higher than they were a year ago, having reached £616,548.

Miles Shipside, director of Rightmove, said: “While a fall is the norm at this time of year, this is December’s best post-financial crash performance, signalling another round of price rises in 2016.”

Those increases are due to a “stark imbalance” between limited housing supply and soaring demand from buyers.

However, prices at the top of the ladder in London have risen the least over the last 12 months, with the value of five-bedroom homes and four-bedroom semi-detached properties increasing just 5.6%.

And there are warnings that the London market will run out of steam in 2016. Rightmove says asking prices in London will rise just 3% over the next 12 months.

Asking prices tend to rise at faster rate than other measures of house prices. Figures from the Office for National Statistics showed prices in London were 7.2% higher in September than in the same month last year.

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The Daily Express

 

About the author

Nicolas Holmes

Nick joined Robert Holmes to inject fresh ideas and help grow the New Homes department of Robert Holmes as well as helping to inject technology into the business and to grow its client base. Together with one of the Directors Nick is in charge of all Development opportunities that Robert Holmes deals with along with sales. Aged 40, he provides succession together with the two existing directors. Nick has always been focused on building client relationships and sales. He built up his own gallery in Chelsea, where he had a loyal following of customers and artists.

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