Rise in average property asking price
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Despite widespread reports of a slowdown in the UK housing market, there has been an increase in the typical asking price of a property this month.
That is according to the latest house price index from property website Rightmove, published today (Monday, May 19th), which revealed that the average property asking price has risen to £242,500.
This represents a 1.2 per cent increase on the figure from last month, when the average price was £239,521.
Miles Shipside, Rightmove's commercial director, commented: "New sellers can see the storm clouds overhead but seem to believe it's only raining on other people.
"The reality is it started raining last September, and has reached storm force in the last month. Sellers who are hanging out to achieve last year's prices need to accept that the market has fallen and that they will end up being punished by a lower price in thelong run."
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19-May-08General Lettings News