UK House prices rising at the fastest level since April 2007

Property asking prices jumped 3.2% over the past month, and London prices hit a new record, according to the Rightmove.co.uk web site.

Rightmove showed UK house prices rising at the fastest level since April 2007, in the four weeks to mid-February.
Sellers appear to be responding to news of house prices rising by placing their property on the market, with Rightmove reporting almost 100,000 new listings.

UK House prices on the rise again

The asking prices are also on the increase. The average increased to £229,500 – up 6.1% annually and the average amount of homes for sale per estate agent branch remains is steady at 63 according to Rightmove. These rises will provide a certain relief for estate agents as they see a lot of changes in the market. (see recent reports on Tepilo, Tesco and Google looking to corner there share of the market).

Rightmove also reports on the market change for new properties. They are coming onto the market with greater speed over the past year, though property listings are still down around 37% on the average numbers of properties coming to market in 2005 to 2008.

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