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Price divide widens between first time and family properties

June 14th 2017
By: Melanie
Price divide widens between first time and family properties

According to Homes and Property there is now a new UK housing price divide between first time properties and family homes, as first time properties are continuing to fall in price whilst family homes are continuing to increase in price.

The average first time home according to the report is being put on the market for an average of £193,000 per month, a decline of 0.5% since last year. This is mainly due to there being slightly few investor landlords in the market place.

Larger houses, three to four bedroom terraced or semi-detached homes have experienced the largest rises compared to last year. The average house price now stands at £317,000, however this is half the price of a London house at £650,000.

"Demand is exceeding supply in many parts of the country and continues to push up the prices of newly-marketed homes,” says Rightmove director Miles Shipside.

"Those with the greatest motivation to move are often those with growing families, with their need for space or access to schools outweighing uncertainties that might cause others to delay their future housing plans."

If you would like to find out more information about moving into your first home or moving up why not pop into your local branch of Goodfellows for a chat and a coffee or call our team on 020 81020554.

Source: Homes and Property