There are lots of house price reports out there but only one will tell you how much sellers actually got for their properties: the Land Registry’s sold prices data.

In their latest report (June), they revealed that prices in England and Wales have risen for the first time in over a year.

landregjune

It wasn’t a massive rise by any means (0.1 per cent) but regional figures show that the housing market is starting to recover: London rose by two per cent, the West Midlands by 0.5 per cent, the South West by 0.4 per cent and the South East by 0.3 per cent.

The market revival is being driven by lower interest rates and by the fact that prices are now 17 per cent off their peak in January 2008, but they’re also being supported by low supply and strong demand.

Our own figures show that stock levels in the sales market are down over 20 per cent year-on-year, but demand is surging.

Traffic to FindaProperty.com hit an all-time monthly high in July, and agents report intense competition for a limited supply of properties.

I’ve said it before and I’ll say it again: this is good news for sellers.

It’s a situation that won’t last forever, so if you are considering selling don’t hang about – at the very least, it’s worth getting a few agents in to value your place: you could be pleasantly surprised by what they tell you.

Need a valuation? Search for a local estate agent on FindaProperty.com.

Related Tags: General, graph of the week

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