East of England bucks national trend to record increase in property prices
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The East of England is the only British region to have recorded an increase in house prices over the last month, new data has revealed.
According to Rightmove's November house price index, all other areas of the country saw a dip in prices, while there was a 0.5 per cent month-on-month increase in the East.
Across Britain, the price of property coming to market dropped by an average of 0.6 per cent during this period – the biggest countrywide fall since January's 0.9 per cent.
Year-on-year, the East saw an 8.7 per cent increase in prices, behind the South West (11.7 per cent) and South East (9.1 per cent). The smallest annual increases were in the North East (1.9 per cent) and London (2.7 per cent).
December is traditionally the quietest month for buyer activity, though Rightmove is predicting its usual spike in interest from potential movers come Boxing Day.
Last year, the portal received more than 51 million visits between Boxing Day and the first working day of the new year.
Tim Bannister, Rightmove's director of property data, said: "As soon as Christmas Day is out of the way, there’s a boom in people searching for property on Boxing Day. That is likely to push prices higher again, and increase the competition from other buyers."