Asking prices have increased across UK

scotland-propertyResidential asking prices in the UK have increased by 0.7% since September, led by the East of England. Month on month asking prices have increased by 0.7% in England, by 0.3% in Scotland and by 0.2% in Wales. According to the data from Home property search site, supply is up by 11% year on year. The report points out that a key warning sign showing the delicateness of the current market is that price cutting of properties whilst on the market has risen to a three year high across the UK.

Doug Shephard, director at Home.co.uk., says : “Supply is increasing speedily in the East, South East and London. London was the first to show an increase in properties entering the market and the total stock for sale in the region has risen by around 24% which means that over supply is a danger and in the neighbouring regions, which would set off a quick downward spiral in prices.”

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