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Monday, September 21, 2015

Rightmove's average asking price hits a high

Right move report that their house price index has hit a record high.

Their index of asking prices of new properties hitting the market rose by 0.9 per cent during September. The average asking price is now at an all time high of £294,834.

Rightmove's commercial director, Miles Shipside, commented
“Prices are at an all-time high, yet borrowing is historically cheap and positive sentiment is aided by the ongoing postponement of rate rises from these six-year lows. Demand from those who can afford to buy remains high, and suitable supply remains tight, with the number of properties coming to market down 6.0 per cent on the same period in 2014”

“It looks like some of those buying typical first-time-buyer properties are now struggling to afford prices in this bracket that have on average gone up by nearly £10,000 in the last year, hence new sellers are asking for less”

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