Asking prices for UK homes close to record high, Rightmove says

LONDON - Prices of homes being sold in Britain are close to their record highs after the biggest annual increase in a year, according to an industry survey that suggested the momentum in the housing market of early 2024 extended into April.) said on Monday its asking prices for residential properties rose by 1.7% in the four weeks to April 13 when compared with the same period last year.

The average new seller asking prices of 372,324 pounds was only 570 pounds of a record hit in May 2023, Rightmove said. Rightmove said the number of new sellers was 12% higher than a year earlier and the number of sales was up by 13%. Demand was strongest in the high-end segment where asking prices in 2024 so far are up by the most since 2014.

"Despite the current optimism, these are not the conditions to support substantial price growth," Tim Bannister, Rightmove's director of property science, said.

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