Average UK prices top £200k says survey of surveys

Posted: 16 Mar 2007 09:57:35 GMT

Average UK house prices have broken through the psychological £200,000 ceiling, a survey of surveys has reported.

Average UK house prices have broken through the psychological £200,000 ceiling, a survey of surveys has reported.

At least five major indices have reported the breakthrough at various points in the last six months, but the Assetz overview of market studies suggest that the figures are aligning.

The top house price surveys show an average of 9.8 per cent annual growth over the year up to February, a 0.4 per cent decline in the annualised rate from January.

"The average price of a home in the UK has now broken through the £200,000 barrier, despite three interest rate rises since last August," said Stuart Law of Assetz.

"This supports our belief that the market is driven by a shortage of homes and high demand from a growing population of potential homeowners."

The rate of growth now appears to be stabilising he added, predicting that prices would reach between eight and ten per cent growth during 2007.

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