Average asking prices increase - Mortgages - News - Moneyfacts

News

Average asking prices increase

Average asking prices increase

Category: Mortgages

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

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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."

What next?

Search all mortgages
Mortgage repayment calculator
How much can you borrow calculator

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Goodbye to the Help to Buy Guarantee

On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. It’s certainly done wonders for the high loan-to-value sector, so we thought we’d take a closer look at the significance of the scheme and the effect it’s had.

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.
 
Close