You are here: Home - News -

Asking prices hit record highs: Rightmove

by:
  • 24/04/2017
  • 0
Asking prices hit record highs: Rightmove
The latest house price index from Rightmove has found that asking prices have jumped to yet another record high at £313,655.

Average asking prices from new listings have increased by 1.1% from March, and are now at their highest level since June 2016. Nonetheless, Rightmove pointed out that the average price increase for this time of year over the last seven years stood at 1.6%. What’s more, annual price increases now stand at 2.2%, the lowest figure for four years.

However, Rightmove pointed to the positivity of strong buyer activity – the number of agreed sales are at their highest level for this time of year since 2007.

Miles Shipside, director and housing market analyst at Rightmove, said that if the coming election dents activity, it will be counter-balanced by the market’s current fast pace.

He continued: “Indeed, in locations where choice of suitable property is limited hesitation could mean losing out to others who still decide to act.”

Shipside highlighted that buyer activity meant there had been a 10% increase in the number of sales agreed compared to the same time in 2016, but noted: “This large year-on-year disparity should be viewed cautiously as the comparable timespan in 2016 saw a drop in buy-to-let activity with the additional second home stamp duty. However, they are also up by 3.8% when compared to 2015. With the growth in household numbers and new-build supply struggling to keep pace, demand is strong and has led to the highest sales agreed numbers at this time of year since the heady pre-credit-crunch levels.”

According to the index, the average property is now taking just 65 days to sell. That’s the lowest figure since October 2016, while estate agents have on average 56 properties on their books. That’s up from the quieter Christmas and New Year period, but down from 59 at this point in 2016.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
headshot of Phil Whitehouse
Brokers: What’s your firm’s exit strategy?

Building a broker business is a career-long enterprise, but leaving it all behind can be one of the most stressful...

Close