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Asking prices of property new to the market have jumped an average of 1.3% this month, Rightmove reported this morning.
The monthly rise, which equates to an average of £3,877, is the same as March last year, when there was a buying spree fuelled by the impending rise in Stamp Duty on the purchase of second homes.
There has only been one bigger monthly rise in asking prices in March, and that was in 2007.
The average new asking price is now £310,108.
The regions with the fastest rate of asking price acceleration are the east and west midlands, followed by the east of England.Source article SEE ALSO - Where next for property prices? UP NEXT - BTL hotspots - where to buy in 2017? DON'T MISS - Rents to rise faster than house pricesNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I have to say Property is selling in the NE
I have just sold two properties into my company and both were up valued which I was very surprised at ?? I have never seen a Mortgage Valuer increase a value ???
Talking to agents every thing is selling as Landlords are selling up
so its good news on the sales front
Learn Change and Adapt ?????
Are they being bought by other landlords - possibly from the south - or by FTBs?
To be very honest I don't Know but my Guess is its home owners
I don't see a great deal of property coming to the market for rent
I believe Landlords and selling when they have a void and the Agents are getting less management
But maybe this is what the govt wants from the sector
If you reckon prices haven't changed in 10 years then LL haven't been preventing FTB from buying
So why all of a sudden do FTB choose to buy a property they could have bought 10 years ago for the same price as today!?
Why are loads of NE LL selling up!?
Or are yields insufficient to pay for S24 taxes
Where are all the tenants going?.
And now this to remind us that "asking prices" are not a reflection of "sold prices"! The lowest annual house price increase since April 2013 was recorded in February, according to the latest House Price Index from Rightmove.
House prices rose by an average of 2.3% in February, although overall demand remains strong, reports the property portal.