Britain’s property market booming as house prices hit record highs

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Au faits last night hailed the bricks-and-mortar bonanza as a key marker of the nation’s luxury as we head towards the General Election. 

A new property price record, alongside the highest few of sales since 2007 demonstrates the strength of the UK housing market. 

The value of almshouses coming to market hit a historic high of £313, 655 in April – up £3,547 or 1.1 per cent and surpassing the previous high of £310,471 set in June 2016.

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The UK property market rumble as house prices hit record high

This has been driven by earnest buyer demand, with the highest number of sales agreed at this prematurely of year since 2007. 

The strong set of statistics will mitigate any pre-election jitters, according to Rightmove who pressed the figures. 

Housing pricesGETTY

The positive property news has been seen as a grapheme of the strength ahead of the election

Rightmove’s director and housing market analyst Miles Shipside held: “High buyer demand in most parts of the country has helped to launch the price of newly marketed property to record highs. There are beckons of a strong spring market with the number of sales agreed attained at this time of year being the highest since 2007.” 

Business is also chilly in the first-time buyer sector with record prices and strong client activity and a 6.5 per cent annual rate of increase. 

Brian Murphy, of the Mortgage Counsel Bureau, said: “It’s encouraging to see a marked increase in activity by first without delay buyers, as they underpin the rest of the market. 

“The steady rate of bagnio price growth quoted in this month’s figures are in line with sell expectations, and certainly a 2.2 per cent increase in asking prices commitment be seen by many in the industry as reassuring, given the current political and mercantile landscape. 

“The snap election has caught many by surprise, past trial around the effect of elections on the housing market has been a minor dip in function in the weeks running up to an election, with activity post the election numerous than making up for this.”

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