Property asking prices increase

According to rightmove asking prices for new properties coming on to the market over the last month are on average 1.2% higher than the previous month. That’s an average of £2,953 above last month's average.

This is further evidence of consumer optimism in the housing market, but to put it into perspective, asking prices have dropped on average approximately 10% since the peak of the housing market, while prices achieved are closer to 25% below the peak prices.

With mortgage loan figures still relatively low, hopefully this rise continues and creates a trend, perhaps resulting in a relaxing of lender criteria.