London soars whilst the rest of the UK snores

The Rightmove price index for October shows another leap in London property prices whilst the rest of the country stays relatively dormant.

Though the average asking price for UK property rose by 2.8% (+£6,923), that was largely thanks to the massive increases in the capital, which saw asking prices up +10.2% (+£50,484) on September.

Prices in outer London are now more than double those in the rest of England & Wales (excluding London), though average wages only 60% higher.

The rest of the country is not seeing the same kind of property price performance. Seven out of ten regions have seen increases below the level of inflation during the past year, with two regions,
Wales and the West Midlands experiencing falls over the past month.

Download the Rightmove October price index here

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