House prices for June show improvement

June has clocked up a minor improvement is house prices according to an index out today.
The Rightmove house price index has seen a one per cent monthly rise in asking prices compared to May.
This equates to an increase of about £2,476 and is 2.4 per cent higher than the same time last year.
This is the third month positive figures have been recorded and this trend has been buoyed by more robust southern regions such as London and the South East.

“These strong rises in the south of the country have helped to push the national average asking price into new record territory,” Miles Shipside, director at Rightmove said.
“The better properties in the better areas remain in short supply, giving sellers of sought-after stock, and their agents, the confidence to come to market at a higher price.
 “Agents report a two-tier market where those who can afford to price realistically are selling, while those who are equity-poor are struggling to sell as they often have to price up to make any prospect of a move viable.”

A whopping 29,394 sellers per week came to the property market prior to the Jubilee weekend.
This is the highest new listing run-rate for two years and Rightmove experts believe this trend will see no increases in asking prices as supply exceeds demand during the summer months.
 

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