The most affordable areas in UK as house prices continue to rise – where to buy and sell

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The property market has reopened for business as coronavirus restrictions ease. This has led to a surge in homeowners buying and selling with house prices continuing to rise. Today’s House Price Index has revealed how prices have changed.

Now that the housing market has reopened, it seems many homeowners are looking to move property.

Many Britons have realised what their home is missing during the lockdown and are now looking for a new property.

The report published today shows that house prices in the UK have risen month-on-month and year-on-year.

The latest data, which analysed UK house prices up until June, showed an annual price rise of 3.4 percent.

On average, it reported house prices had increased by a generous 2.7 percent on the month before.

The report stated: “UK house prices increased by 3.4 percent in the year to June 2020.

“On a non-seasonally adjusted basis, average house prices in the UK increased by 2.7 percent between May 2020 and June 2020, compared with a rise of 0.4 percent during the same period a year earlier (May 2019 and June 2019).”

The report showed which regions in England have had the best house price growth and where sellers could make the most money.

Which region had the biggest increase?

Properties in the North West took the lead with prices increasing by 4.3 percent in just one month.

The average house price in the area rose to £170,939, according to the data.

Houses in London came in second place with properties worth 3.6 percent more month-on-month.

London also topped the list of most expensive properties, with an average house costing an eye-watering £490,495.

The South East saw the smallest increase, with prices rising by just 1.6 percent on the month before.

However, the region still reported the second highest average house price, with a property setting homeowners back by £327,558.

Where is the cheapest place to buy?

Analysing house prices in England, the study showed the North East had the lowest house price on average.

While house prices increased by a respectable 2.9 percent, an average property costs £131,742.

The second cheapest region was Yorkshire and the Humber, with a house costing £169,020.

This was an increase of 2.7 percent on the previous month.

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