Did your house make more than you last month?

Property prices booming during traditional slowdown.

Your house may have made more than you did last month, according to new figures from Rightmove.

The UK property listing website has revealed the asking price of new property coming to market jumped an average of £2,550 (0.9%) in September.

Rightmove says it’s the largest rise in the month of September since 2002, driven by increases in the cost of family homes, which have gone up 1.2%.

This is a surprising jump as historically house prices tend to stall around this time of year thanks to the effects of a holiday-season lull.

The rise means the typical asking price of property coming onto the market now stands at an average of £294,834, a new national record.

The biggest earner

London saw the biggest jump in house prices between August and September. Prices in the capital jumped £13,177 on average.

Rightmove says that the average price of a home coming to market in London is at an all-time high of £620,003.

The annual rate of increase for properties in London is 9.5% (the equivalent of £53,923) as the imbalance between supply and demand intensifies and international buyers continue to flood the market.

Rightmove calculates that if annual price growth on its current trajectory was maintained for the next five years, the average price of a London home will reach £1 million by 2020.

Other top earners

Here are the 15 counties that experienced the biggest house price jump in the last month outside of London according to Rightmove.

We’ve ordered the table by the largest average jump in asking prices.

Source: Rightmove

On average these properties, which are all located in the south of England saw an increase of 1.8%, double the national average of 0.9% for the month.

Surrey, Hertfordshire, Oxfordshire, Buckinghamshire and Berkshire are the top five most expensive areas outside London.

Property rich getting richer

Rightmove says its latest figures show the property rich are getting richer.

All four of the already highly-priced southern regions of England and Wales have gotten even more expensive, with an average 1.3% rise in property prices month on month.

In contrast, the six northern regions in England and Wales with already low-priced properties are seeing prices fall further. The average decline between August and September was 0.9%.

What’s clear in both cases though is that there are fewer properties coming onto the market.

Property listings in the north were down 4.7%, while in the south they were down by 7.1% this month compared to the same period the year before.

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