HM Land Registry have announced a 9.1% increase in house prices in England between July 2015 and July 2016. Obviously this is good news for those who secure a sale, although the number of sales themselves remain below 2014 and 2015 levels.
Most of my clients own property, be that a family home or an investment portfolio, and as part of settling their finances on divorce or separation we need to decide what is to happen with those assets.
It is crucial that they have a realistic financial settlement that takes into account market conditions in the 'real world', rather than operating in a vacuum. For example, this means that we can still put in place a final binding settlement in divorce or dissolution proceedings before a property is sold, and make practical arrangements whilst we wait for that sale to take advantage of price rises where possible.
In England, the July data shows an annual price increase of 9.1% which takes the average property value to £232,885. Monthly house prices rose by 0.5% since June 2016.