Property asking prices edge up AGAIN in spring sales spike, says Rightmove - but buyers are being stretched Typical asking price has risen by £2,807 compared to last month Large family homes have done better, rising by 1.6% in May Agreed sales are up thanks to seasonal uptick but affordability still 'stretched' By Helen Crane Updated: 00:01 BST, 20 May 2024 e-mail View comments House asking prices edged up in the last month according to Rightmove, as buyers and sellers ramped up activity in the busiest period in the home selling calendar. The property website reported an 0.
8 per cent uptick in May, meaning the typical asking price is now £375,131. That is a new record, and up £2,807 compared to April. It is the fifth month in a row in which asking prices have risen, according to Rightmove's index.
Shoots of growth: Asking prices have risen slightly, though experts say the housing market will not be in full bloom until mortgage rates start to reduce However, prices are still only 0.6 per cent higher than this time a year ago thanks to a series of asking price falls in late 2023 and early 2024, which the market is only just bouncing back from. Many would-be buyers paused their plans last year due to increases in mortgage rates, and Rightmove said they were now returning to the market which had helped push up prices.
RELATED ARTICLES Previous 1 Next Boost for borrowers as three major UK banks reduce their...
How much have house prices risen in YOUR neighbourhood since...
Can .
