Rightmove's HPI at 5.1%

Right moves House Price Index for July 2015 puts their monthly asking price growth at 0.1% and annual growth at 5.1%.

That puts the current average asking price at £294, 542.

The UK's biggest property portal says it has seen a 'sharp drop' in new seller numbers, down 10.6 per cent on this month last year.

Miles Shipside, Rightmove's housing market analyst, commented

“The forthcoming extra tax burdens on buy-to-let investors may help to tip the balance in favour of first-time buyers, but the consequent drop in rental property supply could push up rents.

“More supply of affordable starter homes for the growing demand from both renters and buyers is required, which means more new build for both sectors to meet the country’s current and future housing needs.

“The challenge for government, planners and developers is how best to ensure the right properties are built in the right locations and at more affordable prices.

“This will however depend on addressing capacity constraints in the building industry, the price of land for housing, the consistency of funding for key players in the construction sector and the overall stability of the housing market and the wider economy.”

Download Rightmoves HPI for July 2015

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