London and South West help national asking prices to new record
% Change in month
% Change Past Year
Ave house price
Apr HPI
2.9%
3.4%
£243,737
Mar HPI
1.6%
2.2%
£236,939
Key points
Rise of 2.9% (£6,798) in April helps national new seller asking prices to reach an all-time high of £243,737, beating the previous record set nearly four years ago in May 2008 by 0.5% (£1,327)
London prices have seen a 14.9% (£60,403) increase since the national peak in May 2008 – however new sellers’ average asking prices in the rest of the country have fallen by 4.3% over the same period
Since the previous record high in May 2008, the four best performing regions in terms of price are in the south – both the ‘fresh-stock starved’ London and South West regions set new records this month while the South East and East Anglia are currently just 0.3% and 1.1% off new record highs
New national record should be considered against retail price inflation of 11.5% since May 2008, meaning that national average asking prices are still down in real terms by 9.9% over the period
