September property trends infographic

Rightmove September Infographic

Biggest September rise for 13 years to new record high benefits property-rich

Price of property coming to market this month hits new national record, up 0.9% to £294,834, as demand is fuelled by cheap borrowing yet supply is limited by some home-owners’ reluctance to move. Average £2,550 rise is the largest amount seen in month of September since 2002, driven by price jump in family-home sectors (+1.2%) as owners of first-time-buyer properties see prices stall (-1.1%) Property-rich getting richer: - Top 15 highest-priced counties all rise in price this month, by double the national average at 1.8% - These counties are all in the higher-priced southern regions which have all risen this month, driven by supply shortages with fewer home-owners selling - The lower-priced northern regions all fall, reducing would-be sellers’ ability to raise adequate funds to move and exacerbating supply shortages - New seller numbers are down on same period last year in both the north (-4.9%) and the south (-7.1%)