House prices hit all-time high: Average home costs £346,358
Even estate agents were not certain if house prices could go any higher. Clearly, they could - and did.
Today, a unique analysis of Land Registry data shows the remarkable summer surge in prices continued into the autumn, despite warnings that the market had stagnated.
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Hide AdThe analysis by Brighton and Hove Independent has revealed that the average price of a home in the city increased to £346,358 in the three months to the end of September - beating the previous record of £318,821 in the preceding quarter.
For the first time - partly because of a record 1,597 transactions in the third quarter of the year - the aggregate value of homes bought and sold has exceeded £500 million.
Driving the increase in prices was the sale of high-value detached houses, with a record 168 sales in the quarter. The average price was a record £630,959.
There were also a record 228 transactions involving semi-detached houses - with a record average price of £402,077, beating the previous high of £382,896 set in the previous quarter.
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Hide AdThe average price of a terrace home was a record £391,140, with a record 414 transactions. The previous record average was £369,284 in the second quarter of the year.
Similarly, the average price of a flat was an unprecedented £245,905 - with a record 787 transactions - beating the previous record of £238,567, set in the previous quarter.