18 Oct

Prices of houses for sale in UK rise in October 2010

Prices of houses for sale in UK rise in October 2010

Asking prices for houses for sale in the UK have risen slightly in the last month, according to a new report.

Figures from the latest Rightmove House Price Index show that the average asking price for a property in Britain stands at £236,849 in October 2010, a 3.1 per cent increase on the £229,767 figure recorded in September.

According to the report, this trend is typical for the beginning of the traditional autumn selling season, with home prices rising each October for the last decade.

However, Miles Shipside, director of Rightmove, noted that banks and lenders will need to release more funds for mortgages before potential house buyers are able to meet sellers' valuations.

Earlier this month, Halifax released data showing that the rate of change in the value of property for sale in the UK has stabilised in the third quarter of 2010.

The organisation also suggested that the imbalance between supply and demand seen in the market last year has abated.ADNFCR-1222-ID-800121789-ADNFCR

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