Decades of inadequate provision of homes to satisfy demand are having an increasing effect, with a tight-stock market resulting in a shortage of quality property to trade up to.
Price of property coming to market falls by 1.7% (-£4,542) as sellers compete on price in bid to stand out during quieter winter months.
Price of property coming to market up by 2.6% (+£6,784) this month, though annual rate drops from 7.9% to 7.6% as pace of rises slows
Enquiries to agents and developers are up over 20% this year so far compared to the same period in 2013.
Average house prices in England and Wales set to increase by 30% in the next 5 years, with the national forecast reinforcing the north/south divide.
Asking prices of property coming to market cut by 2.9% (-£7,758), the biggest fall Rightmove has ever recorded in August
This month we reported a 7.3% annual rate of increase in asking prices – the highest since Oct 2007 taking us back to pre-credit-crunch levels.
London ripple effect spreads out into commuter belt and second home territory.