Monday, October 19, 2009
Property asking prices in London have broken through the record high set in November 2007 as the drought of homes for sale around the country continues to distort the market. New research out today shows that the average asking price in London jumped 6.5% to Â£461,157 in the four weeks to 10 October, sailing through the high of Â£412,731 set in November two years ago. The survey by the property website Rightmove also shows that asking prices in England and Wales are now higher than a year ago, after climbing 2.8% in the past month. In its survey, Rightmove said a paucity of homes coming on to the market fuelled a Â£6,188 rise in asking prices in England and Wales. "Some agents are virtually 'sold out' and are reporting available stock levels in single figures."