House prices up more than 5 per cent
The number of properties sold for over £1 million rose 44 per cent
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Friday 28 March 2014
Latest figures from the Land Registry show house prices have risen 5.3 per cent in the last year. This puts the average property value in England and Wales at £170,000, although other price indices estimate a much higher figure, around the £250,000 mark.
The monthly increase from January to February was 0.7 per cent. Wales experienced the greatest monthly rise, up 1.6 per cent, while The North East saw the only annual price fall, of 1.3 per cent. Over the previous 12 months, London saw the greatest increases at 13.8 per cent.
During December 2013 the number of completed house sales in England and Wales jumped by a third to 75,182 compared to December 2012. The number of properties sold for over £1 million in December 2013 increased by 44 per cent to 898.
"Not only are prices rising under control but we’re seeing more home movers and new buyers coming to the market," said David Newnes, director of Your Move and Reeds Rains, part of LSL Property Services. "Housebuilders are starting to build more and construction is beginning to kick into gear. But still it’s this critical lack of homes which could yet scupper the final ascent to pre-crisis levels."
However, Campbell Robb, Shelter’s chief executive, commented: "Another rise in house prices is another rise in people left priced out, with thousands forced to watch their dream of a home of their own slip even further out of reach.
"With the government’s own figures predicting that house prices will continue to climb, and so many people already priced out no matter how hard they work or save, it’s time that the government start meeting people halfway by urgently addressing our shortage of affordable homes. To give hope to future generations the government needs to get serious about fixing the housing shortage, and commit to filling the gap between the homes we need and the homes we have."
Nicholas Ayre, managing director of homebuying agency Home Fusion, added: "The gulf in property prices across the UK grows ever bigger with London house prices hitting a new all-time high. There are growing fears that if we are not in bubble territory yet it won't be long before we are, with the Bank of England raising the alarm about borrowers over-extending themselves.
"The problem mortgage borrowers have is that they are competing against cash buyers who don't have the same affordability constraints."
A deceptively spacious, beautifully presented Georgian home with 3000sq ft of living space and five reception rooms
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
A three-bedroom, 15th-century cottage with original features in the picturesque village of Sissinghurst
A six-bedroom terraced house with large south-facing roof terrace, cinema room and wine cellar
A new seven-bedroom home built in Queen Anne-style with swimming pool and parkland views in Mortimer
A listed, four-bedroom farmhouse in the rural hamlet of Rushall with detached barn, four acres of gardens and paddocks
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
Life & Style blogs
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
- 1 I'm A Celebrity 2014: Jungle security stepped up after murder and 'suspicious death' near to camp
- 2 Black Friday 2014: Opening times for Asda, John Lewis, PC World, GAME and Argos
- 3 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 4 Girl, 7, gets Tesco to remove 'stupid' sign suggesting superheroes are 'for boys'
- 5 Jeremy Hunt: 'I took my children to A&E because I didn't want to wait for GP appointment'
£25000 - £29000 per annum: Recruitment Genius: This independent, growing Sales...
£16000 - £20000 per annum: Recruitment Genius: Multi-skilled graphic designer ...
£30000 - £50000 per annum + EXCELLENT: Austen Lloyd: Court of Protection Solic...
£17000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...