London starts the new year again proving it has its own micro-markets where housing demand continues to outstrip supply. New sellers in the capital have had the confidence to increase their month-on-month asking prices by 0.8% (£3,453).
Rightmove’s early indicators of housing market activity in 2012 show that interest in buying is strong despite the lack of mortgage finance, though the willingness or ability of new sellers to come to market remains weak.
Rightmove’s November House Price Index found that the average asking price of a property coming to market in the UK tumbled by £7,528 (-3.1%) but Wales saw a drop of just -0.4%. Find out more in our House Price Index report.
Buyers in London looking for fresh choice of property may find their options more limited than usual at this time of year, with a 16% drop in the number of new sellers compared to the same period in 2010.
This month’s statistics from Rightmove highlight how the relentless stream of economic uncertainty around the Eurozone crisis has influenced decisions when it comes to moving home.
The Rightmove House Price Index for November 2011 was released this week and here’s how the national newspapers have reported it…
London’s ability to out-perform the rest of the country and many international markets in spite of the on-going global financial crisis and resultant credit squeeze is further highlighted by property coming to the market at all-time price highs.
House prices in Wales fell -0.8% over the last month despite the national UK average asking price rising by 2.8% over the same period. The average asking price for a property in Wales now stands at £165,597.