Region’s house prises rise

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Councillor Donna Jones, the Leader of Portsmouth City Council hands over the keys to Mark Tickner     Picture: Malcolm Wells

Portsmouth tenants look forward to moving into council homes

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HOUSE prises in the region rose by 0.7 per cent, an end-of-year report has found.

Property analyst Hometrack says that across the last year, there has been a 25 per cent overall increase in buyer demand, marking the strongest growth seen in three years.

Richard Donnell, director of research at Hometrack, said that London and the south east – the regions which have seen the biggest price increases – are also the areas with the greatest imbalances between demand and supply.

He believes the impact of the Help to Buy scheme on the housing market will ‘fall short of expectations’ due to house buyers remaining unable to afford any new home.

But he added: ‘Overall we expect the momentum in house price growth to spill over into 2014 supported by a continued lack of supply and rising demand.’