The Home.co.uk Asking Price Index was originally devised in association with Calnea Analytics: the statistical consultancy responsible for the production of the official Land Registry House Price Index.
The index revealed that Scottish prices nudged down slightly but remain 4.1% higher than last year. The typical time on market (median) for England and Wales has improved considerably. At 88 days, this already matches last year's post-crisis low and looks set to fall further despite the slower Greater London market.
Supply of property for sale in London has risen considerably over the course of the last year (+19%). Correspondingly, marketing times have increased (the typical marketing time is now 60 days which is 13 days longer than in April 2014). Despite this, prices continue to rise at a rate of 13.0% per annum.
Supply rises in other regions are either small or negligible and this is stimulating great price growth. Prices are surging higher in East England, where the typical time on market has fallen to a new post-crisis low of 64 days. East England, the South East, West Midlands and the South West all showed higher monthly price rises than Greater London this month.
Further north, marketing times are also improving and prices are nudging up as spring increases the market momentum.
Overall, the current mix-adjusted average asking price for England and Wales shows that properties on the market are valued 6.5% higher than they were in April 2014.
