Asking prices for UK houses are hitting record highs in all nations and regions of Britain, new research shows.
All market sectors are also seeing record fees being asked for – meaning the country is seeing an extremely rare ‘full house’ of rises, for the first time since March 2007. Across Britain, the average asking price jumped by 1.8% – some £5,983 – in October, according to the property website Rightmove.Prices are going up among first-time buyers, second steps on the property ladder and larger family-sized homes – the three categories analysed by the website., average asking prices now top £650,000, while in the north east, where average prices are the lowest across the UK, the figure is less than £170,000.
Tim Bannister, Rightmove’s director of property data, said: ‘Competition for property for sale remains hot this autumn, with average prices jumping by almost £6,000 in the month.‘Although more properties are coming to market, the level is still not enough to replenish the stock that’s being snapped up.’
He continued: ‘Consequently, new price records have been set across the board, with every region of Great Britain and all of the three market sectors of first-time buyer, second stepper and top of the ladder hitting all-time highs.The average price tag on a first-time buyer home has hit £210,672, while property typically bought by someone taking their second step on the ladder reached £315,486.
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