Stockport Property News
Prime markets outperforming
Tom Simper
Dec 5, 2022, 12:00 PM
All 10 regions across England and Wales have registered an outperformance of prime homes (top 25% of sales) in the 12 months to end of October 2022.
This ranges from 4.8% growth in the North East to 11.1% in the South West. The average rate of annual growth for the top quartile of the market stands at 8.4%.
Prime markets have, on average, increased 2.7% more than the market as a whole.
Nationally, house price growth has slowed considerably overall but there will remain opportunities for growth, including in prime markets where buyers have more equity and are less reliant on mortgage finance. All 10 regions across England and Wales have registered an outperformance of prime homes (top 25% of sales) in the 12-months to end of October 2022. This ranges from 4.8% growth in the North East to 11.1% in the South West. The average rate of annual growth for the top quartile of the market stands at 8.4%. Prime markets have, on average, increased 2.7% more than the market as a whole. Nationally, house price growth has slowed considerably overall but there will remain opportunities for growth, including in prime markets where buyers have more equity and are less reliant on mortgage finance. Source: Dataloft, Land Registry (12 months to end of October 2022, calculated on £ per square foot basis)
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