Capital Appreciation

In this week’s Mortgage Introducer – ‘Homeowners in one in three UK areas earnt more from capital appreciation than working in the past two years, research from Halifax has revealed. Haringey in North London saw prices rise by £91,000, followed by Harrow (£77,791), St Albans (£72,995) and Waltham Forest (£63,646).

Martin Ellis, housing economist at Halifax, said: “Buoyancy in the housing market over the past two to five years has resulted in homes increasing in value by more than total take-home earnings for the average homeowner in many areas, though mostly in southern England. Homeowners in these areas can build up large levels of equity quickly, but for potential buyers whose wages have failed to keep pace, the cost of buying a home has become more unaffordable during that time.”

Anyhow back to local reality – Potentially a great time to sell? If you have a property priced sensibly in the right ball-park, carried out extensive marketing and got viewers through the door, well the market will ultimately decide the final price. Given that the market locally is booming in many areas (mostly driven by a continued shortage of supply) then YES - it is a great time to sell!
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