Tue 28 Oct 2014
Fact, not fiction: New asking prices surge 7.6% in a year – but is ‘price flurry’ sustainable?
Average asking prices for property new to the market has gone up 2.6% in a month, Rightmove reports.
The average new asking price is now £271,669 against £264,875 a month ago.
Asking prices are now 7.6% up on this time a year ago.
However, Rightmove queries whether the ‘price flurry’ is sustainable, with new seller numbers up 10% compared with a year ago.
Rightmove also notes that the south east has overtaken London as the region with the highest annual price rises – 10% for the south east and 9.6% for London.
Rightmove’s asking price of £271,875 compares with Halifax and Nationwide surveys, which currently give average prices at £187,188 and £188,374 respectively.