UK house asking prices reach new high

Asking prices for homes coming on to the market in England and Wales rose to a new record high in September, as sellers in the priciest areas tried to cash in on demand from buyers able to access credit cheaply.

Property website Rightmove said the average asking price of a home in the UK had increased by 0.9% over the month to hit £294,834. The average increase of £2,550 was the largest in September since 2002, and asking prices are now 6.4% higher than a year ago.

However, the site said the already “property rich” stood to gain most from increased confidence on the housing market, with the highest-priced counties seeing the biggest increases and the cost of family homes rising while first-time buyer properties fell.

Rightmove said asking prices in Cambridgeshire had risen by 3.7% in the past month alone, up by 11.6% year-on-year at an average of £261,345. Monthly asking price jumps of more than 3% were also recorded in Essex and West Sussex.

Meaning that Estate Agents such as Estate Agents Bournemouth are faced daily with more and more pressure to sell these houses on the markets.

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In Greater London, sellers putting homes up for sale asked an average of 2.2% more than those coming to market in August, at an average of £620,003.