Rightmove says biggest September asking price rise for 13 years

Rightmove says biggest September asking price rise for 13 years

Rightmove says the price of property coming to market this month has hit a new national record, up 0.9 per cent to £294,834.

The average £2,550 rise is the largest amount seen in the month of September since 2002. 

“Prices are at an all-time high, yet borrowing is historically cheap and positive sentiment is aided by the ongoing postponement of rate rises from these six-year lows. Demand from those who can afford to buy remains high, and suitable supply remains tight, with the number of properties coming to market down 6.0 per cent on the same period in 2014” says Rightmove commercial director Miles Shipside.

Rightmove says it is the typical family-home market sectors that have risen most this month - all property types with three or more bedrooms, went up by an average of 1.2 per cent whereby in contrast first-time-buyer type properties with two bedrooms or fewer fell by 1.1 per cent.

“It looks like some of those buying typical first-time-buyer properties are now struggling to afford prices in this bracket that have on average gone up by nearly £10,000 in the last year, hence new sellers are asking for less” says Shipside. 

Continuing the theme of those owning the more expensive property assets benefitting most from the current market, the top 15 most expensive counties have all seen price rises this month. 

The average monthly increase is 1.8 per cent in Surrey, Hertfordshire, Oxfordshire, Buckinghamshire and Berkshire. Another southern county, Bedfordshire, has the highest annual growth of 12.3 per cent.

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