Asking prices for properties in England and Wales have increased by 0.6 per cent this month following a drop in August, according to the latest house price index from online property portal Rightmove .
The company’s housing survey found house sellers have raised their asking prices by an average of 0.6 per cent, taking the average house price to £223,996 - just 1.5 per cent down on prices recorded a year ago.
Rightmove said asking prices are being pushed up by a lack of supply and by mortgage lenders competing over the most cash-rich buyers by making the best deals unavailable to many would-be homeowners .
It revealed that the number of properties being put up for sale has fallen to its lowest level for 18 months, with ten properties coming off the market for every eight coming on.
Around 23,000 new homes are coming on to the market in England and Wales each week, the equivalent of around 1.2 million a year, nearly half the pre-recession average of around two million properties a year.
Commenting on the figures, Rightmove’s commercial director Miles Shipside, said: "The recession appears to have hit prices harder in the north, and this is compounded by lenders' more conservative attitude to risk."
"Lenders quite naturally prefer to lend to lower risk borrowers in better locations, with better job security, larger deposits and more resilient property values . Indeed it becomes a self fulfilling prophecy, keeping the best areas more buoyant and making it harder for depressed areas to bounce back."
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
Slight Rise In House Prices Driven By Short Supply Wed, 23 Sep 2009
     Recommended linksBest property search portalUK estate agents directory Property for sale Properties for rent First time buyers guide Estate agent fees Property selling guide Interactive property map Surveyors Report First House Prices Rise In Two Years House Prices Rise For Second Month In A Row Property Asking Prices Highest For Over A Year Surprise Price Rise For Small And Executive Properties Property Asking Prices Driven Up By False Optimism |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2009 estateagents.co.uk
© 1999-2009 estateagents.co.uk