Property Prices Rise During First Quarter Premium property prices outside of London have risen during the first quarter of 2012 according to the Savills' prime regional index report. London (I- Newswire) March 30, 2012 - The Savills' regional index provides statistics on homes that are valued over £1 million and shows a strong quarterly growth in other regions across the UK during the first part of 2012. The index also shows that in the first quarter of this year 43% of buyers were buying in other locations outside of premium London areas in premium residential areas within the Home Counties and other parts of the UK. It is believed that sellers with higher premium properties valued at more than £1 million in London have been moving out of London to take advantage of cheaper properties in outer London areas and countryside areas. The properties outside of London are around 16-17% % cheaper than property prices five years ago and present good value for money for buyers moving out of London. Commuter belt areas outside of London have also shown a rise in property prices during this year's first quarter, including Guildford with a rise in house prices by 4% and Esher by 3.9%. There has been no real decrease in average house prices in the South East, including new houses in Kent and new homes for sale in Essex. There has been a slight 0.3% increase for new homes for sale in Suffolk, and new houses in Norfolk in the East of England during the first quarter of 2012. With the introduction of the millionaire mansion stamp duty tax of 7% by the Government on properties valued over £2 million, this will also have a knockon effect on buyers who want to avoid paying this tax on more expensive London properties, and who would be saving money if buy a cheaper premium property outside of London. Notes to Editors: What House? is a leading property website that features thousands of new homes in Birmingham and new developments in Cambridgeshire as well as the rest of the UK.
Additional Resources About What House?: What House? is a leading property website that features thousands of new developments across the UK. It also provides the latest property news, valuation of homes and property and mortgage advice. Over the last 30 years, What House? has held their annual What House? Awards, which are the longest established New Homes awards in the UK recognising UK house builders and developers across 23 categories. Company Contact Information: What House? Sonya Bruce 8 Baltic Street East EC1Y 0UP Phone: 02073242800 Published in: Business Tags: uk property prices property prices in UK house prices UK house values UK Published on: March 30, 2012 Original Source: Property Prices Rise During First Quarter