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Thursday 17th of June 2010
June 15, 2010    

Homebuyer demand matches rising stock levels

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by Gill Montia

The number of properties for sale in the UK has reached its highest level since January 2008, according to Findaproperty.com.

Stock levels increased 9% between May and June, and are now 35% higher than in January 2010.

However, the average asking price of a home rose 0.3% this month to £220,308, the highest level for eleven months, suggesting that buyer demand has been matching strong supply.

According to the property portal, lenders are now offering mortgages with far more relaxed lending criteria than in previous months and buyers are more confident about entering the market.

All Regions except the East of England recorded stable or rising asking prices in June and on an annual basis prices are nearly 2% higher.

The largest rise was in Wales, at 0.7%, increasing the average asking price for a home to £171,772.

In the East of England, prices slipped 0.5% in June after having shown a gain in May.

The firm’s analyst, Nigel Lewis, comments: “Demand for property has helped prices stay strong despite the explosion in the number of homes for sale … but with Government austerity measures due to be imposed in the near future it is unlikely that prices will rocket out of control.”

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