UK property prices ‘hit record highs’
16th April 2012 | BACK
The average price of newly-offered properties has hit a record high, according to new figures.
The statistics, released as part of the annual House Price Index from property firm Rightmove, suggest that the average UK property is now listed for sale at £243,737, a sum 0.5% above the previous record set in May 2008.
In other figures laid out in the House Price Index, the number of houses offered for sale has also seen steady growth of 8.1% despite serious shortfalls in supply.
These two factors have combined to make the market the most seller-focused in some considerable time, according to Rightmove experts.
While property prices in the South West have also reached record highs, asking prices in London cast all other regions into shadow. The average property in the capital is now offered at only slightly less than £500,000.
Commenting on the new statistics, Rightmove director Miles Shipside said: “Asking price records are being set in the fresh stock-starved London and South West regions, and agents report this is also the case in markets in other regions.”
Copyright Press Association 2012
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