21 May

Asking prices on the rise

Asking prices on the rise

There has been a substantial rise in asking prices across the UK, according to new market data.

Figures from Rightmove suggest that sellers' prices have risen by 3.6 per cent over the past month - the largest increase on record.

This means that property coming on to the market is now 8.9 per cent more expensive that it was 12 months ago.

London saw the highest gain across the country with a 16.3 per cent rise, meaning the average asking price in the capital is now higher by £80,000. This will do little to calm growing concerns from the chancellor that the capital's housing market could be improving a little too much.

"May is a traditionally bullish price rise month," explained Miles Shipside, Rightmove director.

He added: "A late Easter in the heart of the house hunting season has not only concertinaed the traditional hottest home moving period by several weeks, but also stagnated seller numbers, further stirring up prices in areas of buoyant demand."

There has also been a rise in enquiries about properties - something that will be welcomed by estate agents.ADNFCR-1222-ID-801722246-ADNFCR

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