–Rightmove: UK March House Asking Prices +0.8% m/m; +0.9% y/y
LONDON (MNI) – New sellers increased their asking prices by 0.8% to
an average of stg231,790 in March, leaving year-on-year prices 0.9%
higher, according to Rightmove’s latest House Price Index Survey.
After a sharp 3.0% monthly fall in December, Rightmove’s House
Price Index has now risen for three consecutive months. The survey also
shows average time properties spend on the market falling from 98 to 89
days, suggesting a pick up in activity.
“In addition, unsold properties per branch increased by an average
of just one, indicating that the pace of sales agreed has picked up to
nearly cancel out the spring sellers who normally increase agents’ stock
levels at this time of year,” Rightmove said.
House asking prices can be interpreted as a leading indicator of
house price movements, but there is no certainty of asking prices being
met and the market still appears to be sluggish by historic standards.
Commenting on the report, Miles Shipside, director of Rightmove
said “This month’s number of sellers, still handcuffed by a lack of
equity, has managed to limp just ahead of the number of deposit-shackled
buyers, but the market is still restrained by low transaction volumes
and restricted liquidity.”
–London newsroom: 4420 7862 7492; email ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDA$,MABDS$,MT$$$$]
