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House Prices Increased

Sell My House Quickly in Reading

Sell My House Quickly found another interesting article about Reading. Reading house prices increased more than South East average in December.

HOUSE prices increased by 3.3 per cent – more than the average for the South East – in Reading in December, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 5.8 per cent annual growth.

House Prices IncreasedThe average Reading house price in December was £307,597, Land Registry figures show – a 3.3per cent increase on November.

Over the month, the picture was better than that across the South East, where prices increased 0.1 per cent, and Reading outperformed the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Reading rose by £17,000 – putting the area 34th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Winchester, where property prices increased on average by 15.9 per cent, to £473,000. At the other end of the scale, properties in Eastleigh lost 1.5 per cent of their value, giving an average price of £285,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in Reading in December – they increased 3.5 per cent, to £310,407 on average. Over the last year, prices rose by 6.8 per cent.

Among other types of property:

Detached: up 3.2% monthly; up 7.6% annually; £636,703 average

Semi-detached: up 3.1% monthly; up 6.3% annually; £391,703 average

Flats: up 3.2% monthly; up 3.6% annually; £218,935 average

First steps on the property ladder

First-time buyers in Reading spent an average of £275,000 on their property – £14,000 more than a year ago, and £21,000 more than in November 2015.

By comparison, former owner-occupiers paid £347,000 on average in December – 26.1% more than first-time buyers.

How do property prices in Reading compare?

Buyers paid 9.8% less than the average price in the South East (£341,000) in December for a property in Reading. Across the South East, property prices are high compared to those across the UK, where the average cost £252,000.

We found this article about Reading house prices increased more than South East average in December  on The Reading Chronicle.  Kindly click the link to read the full story.

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