UK Average Asking Price set Third Consecutive Monthly Record
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UK Average Asking Price set Third Consecutive Monthly Record

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1 page
English
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Tout savoir sur nos offres

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UK Average Asking Price set Third Consecutive Monthly Record PR Newswire LONDON, June 18, 2012 LONDON, June 18, 2012 /PRNewswire/ -- Rightmove's June House Price Index finds that average asking prices increased by 1.

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UK Average Asking Price set Third
Consecutive Monthly Record
PR Newswire
LONDON, June 18, 2012
LONDON
,
June 18, 2012
/PRNewswire/ --
Rightmove's June House Price Index finds that average asking prices increased
by 1.0% over the past month to now stand at £246,235, a third consecutive
monthly record. However, while Rightmove's index shows sellers' prices are
now 2% up on
August 2007
, the month before the UK economy faced the run
on Northern Rock, they have fallen considerably in real terms when compared
to retail price inflation over the same period. In spite of sellers' current record
price aspirations, in real terms they are still an average of 13% lower. London is
the only region where there has been an inflation-busting increase over the
same five year timescale, with asking prices 3% ahead of the national Retail
Price Index (RPI). The new asking price record is driven by a more robust
market in the south of the country, with new regional price records set in
London
and the South East this month.
Miles Shipside, director at Rightmove comments: "While the national average
price of property coming to market has set new records in each of the last
three months, sellers should not break out the bunting in celebration until they
have done their homework. Agents report a two-tier market where those who
can afford to price realistically are selling, while those who are equity-poor are
struggling to sell as they often have to price up to make any prospect of a
move viable. The traditionally more active spring window is closing and a
summer of sporting distractions underway."
London
is the only region where average asking prices have outpaced inflation
and is 3% ahead since
August 2007
. The other nine regions of
England
and
Wales have seen double-digit percentage falls in new seller asking prices when
adjusted for inflation, with
Wales
the worst performing where real prices are
now 24% lower than
August 2007
.
Shipside adds: "This reduction in real house prices would be great news for
home-movers if their wages had kept pace with inflation and the return of
mass-market mortgage finance was just around the corner. The more
property-affluent Londoners are the exception, and in the capital the more
common rule of thumb is that the rich have got richer."
For further statistics and to download the Rightmove
June 2012
House Price
Index please visit - http://www.rightmove.co.uk/news/house-price-index or
search for local house prices at http://www.rightmove.co.uk/house-prices.html
Rightmove Press Office, press@rightmove.co.uk, +44(0)207-087-0700
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