UK house prices have been increasing in a housing environment which has been aflame since the year started.  This burst of house value increase has created a population of house owners which is watching the start of market trends with baited breath.  House owners understand that waiting around the next corner is a period of time which could create the opposite effect happening right before their eyes.  That is why so many house owners have begun a trend of their own and that trend is selling their house now in somewhat of a panic.

House prices now sit at the highest level since 2008.  The average UK house sells for £186,000.  This is creating many houses to be placed on the market in an attempt to get the biggest selling price out of the house. 

According to the latest figures from Halifax, house sales have picked up at a feverish pace.  Although this has created a multitude of new listings to hit the market, buyer demand is actually starting to drop a bit.

Adam Challis with property group JLL commented on selling property in the London area in particular, saying: "In London [in particular], the trend of selling up from more central zones to get better value and more space in suburban or commuterbelt locations will also continue. Many recognise the significant arbitrage opportunity that now exists and want to maximise this opportunity to cash in.”

Howard Archer of IHS Global Insight commented on the state of the housing market, saying: "The Halifax data adds to the current uncertainty over the housing market.”

Archer added: "Furthermore, an appreciable rise in mortgage approvals reported by the Bank of England in June fuels uncertainty as to whether the recent loss of momentum in housing market activity is likely to be lasting or just a temporary development related to changing mortgage regulations."