There has been good news for Hillingdon property owners where local property prices showed a cheery rise in June – according to the latest release of information from the Land Registry.
The average Hillingdon property now costs £404,502 compared to £345,462 in average in July last year – an increase of 17.1% in that time.
Prices rose in June by just over 1% on the month. With sales brought forward into March by the 3% change in Stamp Duty (SDLT) on second homes, April was a slower month for sales but still saw a small increase on property prices up 0.27% on the month, with stronger rises on May and June.
Many people have their eye on the market especially following the June Brexit vote – with predictions of a 1% fall in house prices nationally – however the market remains underpinned by a shortage of supply of new houses. People will always need somewhere to live.
With a 1% rise in prices in June in Hillingdon the effects on the local market remain to be seen. The largest impact we have seen on house prices is the effect of the SDLT not Brexit.
For further reading there is Interesting comment from Countywide in this Telegraph article.
Written by Jeremy Wasden.
