The spa town of Cheltenham leads the table with 13% annual house price growth almost five times higher than the rest of the country.
Six streets in London with average house price of over £10 million make the capital the most expensive in England and Wales.
Homeowners selling their home can expect less cash than the asking price as the gap between asked and sold prices increases.
The number of remortgage buyers and value of borrowing have reached record levels helped by record low interest rates.
For several boroughs in London house prices are rising although the capital as a whole is struggling to keep pace.
Homeowners struggle to move due to a lack of suitable housing at affordable prices and are opting to improve instead.
The low mortgage rates, high employment and a shortage of homes are helping to keep house prices at their current levels.
House price affordability in London has reached a high of 14.5 times earnings and is well above the capitals fifteen-year average.
Buying a home will cost 46% more in a national park as homeowners can enjoy easy access to the great outdoors and beautiful countryside.
Changes in the budget means most first time buyers will not pay stamp duty but the OBR expects house prices to rise instead.
First time buyers are less likely to be supported by the Bank of Mum and Dad as a third of parents are unable to financially support their children.
The number of properties sold in London have reduced 24% in the last year with those in England down by 17% as buyer demand falls.
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
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Email:
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London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.