Rightmove: Asking prices up in April

| April 18, 2011
Rightmove: Asking prices up in April

Property website, Rightmove, has today reported a rise in asking prices for the month of April – the fourth consecutive month of growth.

According to Rightmove, asking prices for residential property in England and Wales grew 0.9% on an annual basis.

The property website, which claims to advertise 90% of the properties on the market, said the latest asking price rise takes the average price of a home listed on Rightmove to £235,822.

According to Rightmove, today’s figures suggest house-buyers are likely to remain cautious for some time as many are reluctant to purchase a property due to uncertainty surrounding the economy.

Furthermore, prospective buyers are struggling to obtain a mortgage unless they have a substantial deposit.

Meanwhile, there remains a high level of unsold properties on the market and estate agents recorded the biggest monthly leap in unsold stock since May 2007.

Miles Shipside, director of Rightmove, comments: “While stock levels normally increase during the first half of the year, this is a larger increase than normal.

“Those who are serious about selling should look to price more keenly in the Spring selling season.”

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