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Average asking prices increase

Average asking prices increase

Category: Mortgages

Updated: 23/05/2013
First Published: 23/05/2013

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Property prices in England have grown to an average of £235,101, according to new research by the property website, Move with Us.

The study of the residential and buy-to-let housing market found asking prices in the South East of the country were found to be the highest, outside of London, with sellers valuing their homes at an average of £299,934, 3.44% higher than in January 2012.

The number of homes placed on the market during March reached the highest level since May 2012, with around 117,000 houses being put up for sale.

Residential properties are taking 86 days to sell, on average, 5.6% faster than in quarter four of last year.

Move with Us stated rising asking prices and numbers of listed properties suggests that sellers are growing more optimistic.

"If seller optimism is not met by a rise in buyer demand, any increase in asking price is generally met with longer sale times," the report said.

"This certainly seems to have been the case in January. However, as the market adjusted to higher prices, sales times reduced throughout the rest of the quarter."

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