|
|
Rightmove Report biggest Monthly Asking Price Jump for a Decade
20-02-2012
Author: Steven Michaels
The average asking prices on property has increased by 4.1% this month according to the latest price index from Rightmove. This is the greatest monthly increase since April 2002.
This is a surprisingly strong boost to the housing market, considering the economic climate. The sudden boost has come from the cash-rich sectors of the market as property demand is exceeding property supply.
Miles Shipside, Director at Rightmove states “We’re seeing a strong ‘spring bounce’ in asking prices this year, but the ball is still a lot smaller than it was before the credit crunch as market volumes are constrained.” This shows that confidence is returning to the housing market.
According to the recent survey carried out by Rightmove 60% of the 32,000 people questioned said they think the current market is in favour of buyers. This indicates that there is buyer-bidding power in their area to get the lower bids accepted. Also a further 51% stated that investing in property was a lower risk than other investment options.
Shipside comments that search activity has increased by 19% on Rightmove and they are now in a position where they don’t have enough properties to sell. This could be due to people who have the money to move out have just decided to buy a property whether it is from desperation or people accepting that this is now the norm across the housing market.
|
|
| Articles:
Return to List |
|
|
|
|
Add your comments:
Your email address will not be published. Required fields are marked
*
Copyright 2009. Just Landlords. All Rights Reserved