Rightmove House Price Index Jumps by 3.5%Make Text Bigger
Rightmove House Price Index sees asking prices rebound post-Olympics this month by 3.5% an average of £8,310. This reported increase partially reverses the poor summer of monthly falls totaling 4.6% or an average of minus £11,377.
All regions throughout England and Wales are showing an increase in asking prices this month with London posting the greatest rebound with 4.8% an average of £21,834 and a new peak average asking price of £478,071.
Although Estate Agents are now testing higher prices, Rightmove is reporting that “few segments of the market can justify higher property values than the price peaks of 2007/8 and that fewer than 40% of buyers would arrange to visit a suitable property if they believed it was over-priced.”
Miles Shipside, director and housing market analyst at Rightmove comments: “The upturn in asking prices, in the absence of other positive influences, is most likely attributable to the continued shortage of new property supply. The weekly run-rate of fresh property stock this month is down by 0.4% on the same period a year ago.”
Below is a table showing Rightmove’s results by Region:
|Region||Avg Price Oct 2012 £||Avg Price Sep 2012 £||Monthly change %||Avg Price Oct 2011 £||Annual Change %|
|Yorkshire & Humberside||153,536||152,788||0.5||154,498||-0.6|
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