UK Property Asking Prices Rise at Fastest Pace in 10 Months [BNN Bloomberg (Canada)]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: BNN Bloomberg
confidence the market is strengthening, according to the online sales portal Rightmove. The average asking price of homes coming onto the market rose to £368,118 ($469,110) in March, up by 1.5% from the previous month. Buyers flocked back after the cooling in mortgage rates from their peak last summer. Rightmove said prices rose 0.8% from a year ago. The report added to evidence showing a thawing in Britain's housing market in 2024 as buyers and sellers are enticed back by lower borrowing rates. Asking prices are typically an indicator of sellers' confidence in the market. Nationwide Building Society's index based on its lending showed positive annual growth in prices for the first time in more than a year in February. “We now seem to be past the bottom of the market,” said Tim Bannister, Rightmove's director of property science. “For those who can afford to buy and have yet to take action, this may provide a window of opportunity. New sellers are feeling much more confident, wi
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