Average UK asking prices increased by 1.3%

remortgage-up-53-pcAverage UK asking prices increased by 1.3% or £3,843 in April month on month and are up 7.3% year on year. According to a report from Rightmove, this takes the price of an average home to a record high of more than £307,000 with market activity increased due to rush by buy to let investors to beat the stamp duty change; the smaller properties in the first time buyer and buy to let sector saw a month on month price drop of 1.4%.

Miles Shipside, Rightmove director and housing market analyst, says: “The demand boost from those looking to complete before 01 April has now degenerated, resulting in a 1.4% drop this month in the average price of a property coming to market in the first time buyer and investor sector. However, the drive it created looks to have enabled owner occupiers of these properties to trade up. This has created an onward chain reaction of higher demand in higher price brackets as more people can move.”

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