Monday, September 18, 2006
Latest Rightmove report: House Prices rise 0.2% in Sep
Rightmove revealed that average asking prices rose by only 0.2% in September. This rise follows August's sharp 1.6% fall, which came on the back of seven consecutive monthly increases. 'Asking prices are at a virtual standstill,' said Miles Shipside, Rightmove's commercial director. 'The market appears to be correcting affordability issues itself and does not need further intervention for the Bank of England. At this pivotal stage it is likely to do more harm than good,' he added. The BoE is widely expected to raise its key rate by a quarter point again to 5.00% in November.