Property prices have risen at their fastest rate for six months, according to new research.

Figures from Rightmove have revealed that the average asking price for a property grew by 2.7 per cent compared to the previous month, when a 2.6 per cent decrease in prices had been recorded.

However, it is thought that much of the growth has been down to owners of larger and therefore more expensive properties entering the market ahead of the introduction of home information packs (Hips.

According to Rightmove, there was a noticeable increase in the number of three and four-bedroom properties coming onto the market as sellers looked to avoid the need to pay for the packs.

The property organisation suggested that the increase in prices could be a blip as a result of this rush to put larger properties on the market.

However, overall prices recorded by Rightmove were 10.4 per cent higher than a year earlier, demonstrating that, despite the recent cooling in the property market, prices are still generally heading upwards.


© Adfero Ltd

Author:  Joanne McCabe

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