House asking prices hit record high
Written on 15 June 2015
Asking prices soared to new heights in June taking the average house price in England and Wales to £294,351, according to the latest survey by Rightmove. That’s an increase of 4.5% over the year and £8,218 more than the previous record in April this year.
Prices rose across the board with the exception of the North East (down 0.3% over the year) and Wales (down 1.4%).
The property website says the hike in asking prices is due to a boost in the number of buyers looking to move after the election combined with an unexpected fall in the number of properties for sale.
“Some buyers had been holding back in the weeks before the election, leading to some sellers suffering an unseasonal price standstill in the late spring…. Now the unexpected election outcome has caused a strong rebound, prompting an upturn in buyer demand and helping new seller asking prices to hit their highest ever,” says Miles Shipside, Rightmove director.
House asking prices by region
See how house prices have fared in your area using the table below.
|Region||Average asking price (£)||Annual increase (%)|
|Yorks. and Humber||173,844||3.5|
Source: Rightmove House Price Index, June 2015.
Help if you’re looking to move
If you’re buying for the first time or hoping to move home, we’ve got a number of useful guides to help. You’ll find lots of useful information in our guides on life insurance and the different types of mortgages available.