17 Mar

House prices rise at either end of market, figures show

House prices rise at either end of market, figures show

A study of asking prices for homes has revealed that the figure has risen among the cheapest and most expensive homes, while falling in the middle.

The analysis by the National Association of Estate Agents (NAEA) found that the average asking price for two-bedroom flats in February this year was £136,247, compared with £135,962 in January.

At the other end of the scale, high-end executive properties were up to £650,220 from £608,389.

In between, three-bedroom terraced homes, three-bedroom semis and four-bedroom detached houses all saw falls.

There was a similar pattern for sale prices, except that the terraced homes were selling for more than in January, up from £155,778 to £156,755.

NAEA chief executive Peter Bolton King suggested that the smaller size of houses being bought may reflect the scale of the mortgages available to purchasers.

Mr Bolton King said asking prices were still unrealistically high, a view echoing that of Rightmove.co.uk's commercial director Miles Shipside.

Commenting earlier this week on his portal's findings that the average asking price was up 0.9 per cent in February, Mr Shipside remarked that sellers were "showing resistance to the new reality" of the market.

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