Lack of property boosts asking prices
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Asking prices leapt 3.2 per cent in the last month due to the small number of houses coming on to the market, according to a property website.
In its monthly price index, rightmove.co.uk found prices had increased by £7,137 on average as the number of buyers continues to outstrip the amount of property available. The index found the average London asking price set a record, at £427,987.
The number of properties on the market has still risen by 19.8 per cent on the same period in 2009, although the study says the introduction of the ban on marketing properties until a Home Information Pack had been prepared in part constrained the number of properties for sale in January 2009.
Miles Shipside, commercial director of Rightmove, said: ‘Where supply remains well below historic levels, which is especially noticeable in the south, upwards price pressure looks sustainable.
‘Where property supply if closer to pre-crunch levels, sellers should price more aggressively having critically compared their property to recent actual sales as well as to what’s currently on the market.’
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