House Price Index - March 2018

Property prices continue to climb as demand outstrips supply

According to the latest house price index from property portal Rightmove, there has been a jump in average asking prices of 1.5%, approximately £4,503.00 since the start of the year. So far in 2018 we have seen strong demand from home movers.

First-time and second-step sectors have hit record highs with average asking prices of £189,840 and £272,031 respectively. Overall, average prices hit an all-time high record in four out of eleven regions. The rise in house prices seems to be due to a dip in supply with 5% fewer properties coming to the market compared to this time last year. We're still seeing first-time buyers taking a step onto the property ladder and benefiting from stamp duty relief. 

Looking at the North East specifically, we have seen a 1.6% monthly change in house prices with the average for March working out at £148,695 which is a 2.2% annual change. The average property in the North East is taking 84 days to sell. 




If you're looking to put your house on the market please call our valuations team on 0191 649 7008 or email If you would like to see what we currently have on the market, please click here. 

Walton Robinson