Latest Property Values News

Asking prices for homes in the UK and Wales rose by 0.8 per cent from the middle of May to the middle of June, it has been reported, despite an increase in the number of sellers coming to market.

Around 200,000 new properties went on sale during this period, according to research from Rightmove, but this was not reflected in a fall in price growth.

The new figures represent a doubling of May's 0.4 per cent rise, with year-on-year growth also up slightly to 13.2 per cent from 13.1 per cent.

While sellers may ultimately be forced to scale back their asking prices because of the supply and demand imbalance, this is unlikely to result in a significant fall back in overall price levels, Rightmove suggest, despite sellers coming to market in an effort to avoid having to pay for Home information packs (Hips).

"The rush to beat the impending Hips deadline appears to have attracted some poorly motivated sellers to the market," commented Rightmove commercial director Miles Shipside.

But prices in seaside towns are especially strong, separate research from Halifax has found, with year-on-year increases of 41 per cent in some areas.


©

Author:  Joanne McCabe

Mail to a friend  |   Print this news  |  Contact Us  |  About Us

Publish our Property values articles on your own site!

All our Property values articles are available for republishing, provided the links in the content remain intact. You can also use our RSS news feed to republish all of our Property values articles.