Promotion extended: £150 off with code 150MAY - Ends 31 MayNow £150 off with code 150MAY - Ends 31 May

This morning online property portal Rightmove released their latest insight into the UK property market price growth.

The latest data shows that across the nation prices have increased by 1.3%, however, annually this growth level has only reached 2.3%. But there is good news for homeowners in the Midlands as in the last month prices in both the East and West Midlands grew by an impressive 2.1%, with the East Midlands seeing annual growth of 5.7%!

But there is good news for homeowners in the Midlands as in the last month prices in both the East and West Midlands grew by an impressive 2.1%, with the East Midlands seeing annual growth of 5.7%!

The eMoov CEO, Russell Quirk, was on hand to explain why there is such regional fluctuation across each region as well as why Rightmove’s figures should be taken as an indicator rather than actual market movement.

Despite Rightmove’s best intentions to deliver transparent market analysis, the nature of their data being based on asking price and not sold price means it should only be viewed as a tentative toe-dip into the state of the UK market at present.

Today’s numbers may help to compound the current issue of a shortage of housing but this isn’t an anomaly that has only just surfaced. It has been rife for quite some time now and so this latest data would suggest the addition of a seasonal pickup as we head into the busiest time of the year. This heightened market activity, coupled with the ongoing stock shortage, is leading to a strong hike in prices.
We’ve seen a lot of hesitation in the market of late, particularly amongst those in the likes of the South East who are worried about maximising their investment return.
The reality is that in areas like the Midlands where prices aren’t as inflated, a more no-nonsense approach is benefitting homeowners as they proceed with their sale and see stronger, more natural price growth across the board as a result.
Russell Quirk

Founder & CEO, eMoov.co.uk

Share This