House prices increase in all UK regions say Rightmove

Seven monthly rises on the trot and two consecutive record months as the price of newly marketed

property increases by 0.3% (+£860) in July boosting year-on-year growth to 4.8% (+£11,561)

 - Signs of a broader-based recovery: all regions up year-on-year for the first time in nearly three years contributing to the positive national picture - Confidence on the up: the proportion of people expecting average prices to be higher a year from now doubles compared to this time last year, now at 62% from 31%

- More movers and more to come: transactions already up 5%1 year-to-date and lead indicators suggest more in the pipeline – Rightmove email enquiries to agents and developers up 18% on

20122, new sellers up 5%3, mortgage approvals up 6%4 and surveyors ‘struggling to cope’

- Positive borrowing window: markets do not expect a base rate rise for three years, Funding for Lending competition easing rates and availability, plus ‘brick-shortage success’ of Help to Buy!

Annual change by region

Wales +2.4%

South West +2.4%

West Midlands +1%

North West +4.5%

North +1.2%

Yorkshire & Humberside +1.5%

East Midlands +4.4%

East Anglia +1.9%

South East +4.6%

Greater London +12%

Rightmove reports a seventh consecutive monthly rise in the price of property coming to market, up by 0.3% (+£860), and the second successive national record. New sellers are now asking 4.8% (+£11,561) more than a year ago, a big jump from the 2.7% annual rate recorded in June. With all regions showing a year-on-year increase for the first time since September 2010, several factors suggest this is a broader-based recovery fuelled by the ‘aggregation of marginal gains’.

Miles Shipside, Rightmove director and housing market analyst comments: “The market is currently benefitting from the ‘aggregation of marginal gains’ where incremental improvements across a range of key market drivers compound to slowly but surely build momentum.

"Rightmove’s lead indicators show increases in enquiries, new sellers and marketing prices. An important milestone for a broader-based and sustainable recovery is that all regions of the country now have higher prices than a year ago firmly on the record”.

Confidence on the up: early findings from Rightmove’s latest Consumer Confidence Survey, which has already received more than 25,000 responses from home-movers, show that 62% expect property prices to be higher a year from now, double the 31% recorded a year ago.

Shipside observes: “The price optimists have doubled compared to just 12 months ago and now outnumber the price pessimists ten to one. Consumer confidence is key to the housing market and on this front there has finally been a year of minimal bad news, with a reasonable amount of good, after four years of pretty consistent doom and gloom. A combination of apparent economic stability internationally – or at least, less widely-reported turmoil and uncertainty – and some positive signs of an economic upturn nationally, mean more home-movers are willing and able to increase their financial commitments. Barring a raft of bad economic news, we expect the positive impact of this on the property market to continue.”