Asking prices for UK homes rise by most in 10 months, survey shows [Reuters]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Reuters
the confidence of sellers, with London seeing the biggest increase in demand, an industry survey showed on Monday. Property website Rightmove said asking prices for residential properties rose by 1.5% in the four weeks to March 9, the strongest four-week increase in 10 months, although they remained nearly 5,000 pounds ($6,400) below their May 2023 peak. Prices were 0.8% higher than a year earlier. "Sellers are right to feel more confident and optimistic this year, but buyer affordability remains stretched and higher mortgage rates are an ongoing challenge," Tim Bannister, Rightmove's director of property science, said. Rightmove's measure of buyer demand in the period between Feb. 11 and March 9 was up by 8% compared with a year earlier, and sales were up by an annual 13%. However, there were still signs of caution among buyers. Sellers took on average 71 days to find a buyer, the longest for the time of year since 2019. Demand in London was stronger than anywhere else as
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