Property asking prices 'increase'
Just a few weeks into 2010, property asking prices have already increased by an average of 1.2 per cent, new research has found.
According to figures released by Rightmove, the average property is currently on the market for £222,261 - 4.1 per cent more than at the start of 2009.
However, the group predicts there will be no changes this year in house prices, while stock levels are currently at their lowest level this century, which could mean buyers suffer from a lack of choice.
Indeed, with a shortage of available homes on the market, Britons may instead wish to consider flats to rent in Eltham or another part of London while they look for a new purchase opportunity.
Commenting on the news, Selwyn Lim, director of Mouseprice, said: "There is some seasonality in the property market and that seasonality is caused by people preferring to put their property on the market at the start of the year, as opposed to just before Christmas and the new year."
Written by Ben Carter
Published 19th January, 2010
© 2010 Estates IT Limited
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The asking price of the average property has increased this year, new research has revealed, which may prompt Britons to consider flats to rent in London.