‘Spring bounce’ puts London asking prices close to record high
There is evidence of a 'spring bounce' in the price of properties in London with a monthly rise in new seller asking prices of 2.5%.
There is evidence of a 'spring bounce' in the price of properties in London with a monthly rise in new seller asking prices of 2.5%.
This February’s 4.1% (£9,192) increase is the highest monthly rise Rightmove has recorded since April 2002, a surprisingly strong uplift given the challenging economic environment.
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.
Homes are our biggest asset, naturally we expect a good price and yes under the right circumstances it should be possible to get it. If you put your property on the market with the “let’s see what happens” attitude you are not likely to achieve your price expectations.
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.
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.
In Wales average asking prices dropped by -2.8%, the UK’s biggest regional fall. The drop in asking prices could improve affordability for Welsh home-movers looking to move during the autumn property market.