Property asking price up 3.6% in a month

The asking price for a home in England or Wales rose by a record amount between March and April, according to a new report.

Property listings site Rightmove said that asking prices received a boost of £8,307, or 3.6 per cent between March and April, which was the largest increase seen so far.

The website put the growth down to a combination of factors, including a shortage of property supply in relation to demand, as well as a traditional Easter boost to the housing market.

It said that the upcoming implementation of compulsory home information packs (Hips) on June 1st was also a factor, with many sellers being persuaded to put their properties on the market before the deadline.

Commercial director of Rightmove Miles Shipside commented: "Sellers' asking prices provide one of the earliest indicators of which way the market is headed, and whilst a boost is to be expected around Easter, £8,000 in a month is the largest amount we have ever recorded."

Government figures indicate that annual house price inflation rose to 12.1 per cent in February from 10.9 per cent in January, although the average house price dropped by 0.1 per cent.



© See Terms and Conditions