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Asking prices up for fifth month in a row says Rightmove

Monday, May 22 2017
Asking prices up for fifth month in a row says Rightmove

Asking prices of homes coming to the market have now been rising for five consecutive months says Rightmove.  Asking prices rose 2.0 per cent, equivalent to £3,626, to reach a national average of £317,281 according to the portal.  It says pre-election periods typically cause a pause in activity, but this price growth and strong year-to-date numbers of sales agreed indicate that many are undeterred. The strongest sector for price growth appears to be typical family homes.

The number of sales agreed by estate agents remains robust, being 2,0 per cent higher in the year to date than the same period in the previous election year of 2015 - although they are in turn some 2.0 per cent down on the same period last year, when the rush of buy to let investors ahead of the stamp duty surcharge distorted the pattern. “It remains to be seen how much momentum may drop away in the second half of the year with stretched affordability a problem for potential buyers” warns Miles Shipside, Rightmove director and housing market analyst.

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