The increase was up 4.8% on the same month the previous year, an annual increase of £21,756 in value.
The strength of London’s prime property market was a key driver. Asking prices were at an all-time high of £1,307,801. This is £158,047 or 13.7% more than a year ago.
At a regional level all areas of the UK experienced a month on month increase in prime sales asking prices except the North East where prices fell 1%. Compared to 12 months ago, prices were up in every region except Yorkshire and the Humber and the North East with the strongest regional year on year performance outside of London in the North West where prices were up 7.5%.
Nigel Lewis, property analyst at PrimeLocation, said: “As the bad news rolls in from outside the UK and the economy stutters, the prime market has been marching on regardless as the UK’s wealthiest home owners continue to prosper. With the exception of the North East, which is the only region to see prime asking price fall every month in 2012
“The highest priced homes in London are rarely owned by average Brits, which is why the prime London market behaves so differently to the rest of the UK.
“Demand from wealthy overseas investors has and will continue to keep this prosperous market afloat despite the sluggish economic performance seen across the rest of the country.”
