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Reading House Prices Dropped

Sell My House Quickly in Reading

Sell My House Quickly found another interesting article about Reading house prices dropped. House prices dropped by 1.1 per cent in Reading in November, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 1.7 per cent annual growth.

The average Reading house price in November was £294,386, Land Registry figures show – a 1.1 per cent decrease on October.

Over the month, the picture was worse than that across the South East, where prices increased 1.2 per cent, and Reading underperformed compared to 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 £4,900 – putting the area 66th among the South East’s 70 local authorities for annual growth.

First-time buyers in Reading spent an average of £262,900 on their property – £2,900 more than a year ago, and £12,800 more than in October 2015.

By comparison, former owner-occupiers paid £332,200 on average in November – 26.3 per cent more than first-time buyers.

How do property prices in Reading compare?

Buyers paid 14 per cent less than the average price in the South East (£342,000) in November for a property in Reading.

Reading House Prices DroppedAcross the South East, property prices are higher than those across the UK, where the average cost £250,000.

The most expensive properties in the South East were in Elmbridge – £621,000 on average, and 2.1 times as much as in Reading. Elmbridge properties cost 2.9 times as much as homes in Southampton (£213,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average November sale price of £1.5 million could buy 16 properties in Blaenau Gwent (average £95,000).

We found this article about Reading house prices dropped on The Reading Chronicle.  Kindly click the link to read the full story.

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