£300,000 milestone passed as price of newly-marketed homes hits new high

    As demand soars and supply remains tight, the average price of a property coming to market in England and Wales passes £300,000 for the first time Challenges facing both first-time buyers and those trading up highlighted by 50% increase in just 10 years: £100,000 jump in new seller asking prices from £200,980 in March 2006, to £303,190 today Affordability constraints emphasised by average wage growth of only 22%1 over last 10 years 3% price jump in March (+£3,903) is second-highest at this time of year since the 2008 credit crunch Momentum spreads north and west with six out of ten regions setting record price highs this month London no longer leads the pack as prices stand still The mismatch between supply and demand has resulted in six new record highs over the past twelve months in the price of property coming to market. However, this month sees a...
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New analysis from Rightmove shows the biggest gap between demand and supply is in the first-time buyer sector

Key points New analysis from Rightmove shows the biggest gap between demand and supply is in the first-time buyer sector:  Number of enquiries per property for two bedrooms or fewer is 24% higher than for larger properties of three bedrooms or more  Challenge for government, planners and developers is how best to address this specific demand  Price of property coming to market sees marginal increase for the second consecutive month to a new record high, up 0.1% (+£191) to £294,542 Sharp drop in new seller numbers emphasises supply crisis and shortage of people trading up: Number of new sellers down 10.6% on same period in 2014  High June demand with Rightmove visits and enquiries to agents both up 22% on last year The price of property coming to market has hit a new record high for the second consecutive month, albeit only a small 0.1% (+£191) increase on the month...
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Structural housing shortage results in not enough sellers and rising prices

Decades of inadequate provision of homes to satisfy growth in demand are having an increasing effect, with a tight-stock market resulting in a shortage of quality property for sale to trade up to.
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Price of property coming to market up 1.4% in a month where prices usually fall

Prices and activity both cooled in the second half of 2014, though there are signs of a New Year bounce-back. More people are looking for property than last year, more sellers are putting their property up for sale, and new seller asking prices have increased this month by 1.4% (+£3,798) at a time of year when there are usually price falls. However, Rightmove cautions that sellers will not have it all their own way in the year ahead in spite of the bullish tone set by these early indicators.
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Price of property coming to market increased by 2.6%

The price of property coming to market this month has increased by 2.6% (+£6,784) continuing the usual October trend of a substantial uplift in new sellers’ price expectations. While this is the lowest rise at this time of year for six years, sellers may still find that their asking prices are too optimistic in parts of the country where the supply of property exceeds buyer demand.
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House Prices to rise 30% by 2019

According to RightMove and Oxford Economics average house prices in England and Wales are set to rise by 30% in the next 5 years. It states that London prices are set to rise by 33%, but the South East is set to rise by 39% by 2019! Despite being the slowest riser, the North West will still increase by 24%.
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18% jump in new sellers, yet asking prices still up

Rightmove.co.uk has today announced its February 2014 House Price Index. In their announcement they have found that: The average asking price was up by 3.3% over the month from 12th January to 8th February Average property asking prices of property coming to the market is now £251,964 Over the year since Feb 13 HPI this represents an increase of 6.9% The number of new sellers listing properties has jumped by 18% compared to a year ago. The 18% increase in supply is helping to bring more supply to the market, being the highest supply in February for 6 years (see below graph). However this is not offsetting the number of properties that are being taken off the market and having less impact on the overall supply shortage. As a result there was a slight fall in the average stock available per branch, down from 58 properties to 57. Agents are finding...
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Rightmove sees "Strongest Ever Start to the Year"

The Rightmove House Price Index (HPI) for January 2014 shows the "Strongest ever start to the new year": The average asking price was £243,861, up by 1.0% - the largest ever January rise of prices for property coming to market
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Low supply likely to drive up asking prices

Rightmove.co.uks HPI for December 2013 sees a fall in asking prices, yet this is inline with the seasonal impact on the housing market. Indeed although a fall has been seen, it is the smallest December fall since 2006, which they believe indicates the recovery is gaining momentum.
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Rightmove forecast for 2013 doubles

Rightmove.co.uks July House Price Index sees a further increase in asking prices, leading to seven monhtly rises in a row and two consecutive record months. Newly marketed property prices increased by 0.3% in the monht and the year-on-year growth boosted to 4.8%.
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South East lifts off with record high asking prices

Rightmove.co.uk sees new sellers asking a record £250,000 on average for property in the South East, as national the asking HPI increase yet again. The Monthly increase in average asking prices is +1.2% higher than in May and +2.7% higher than the same time last year:
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Continued increase in asking prices by sellers

The Rightmove.co.uk April HPI has reported a monthly increase of 2.1% inthe asking prices that sellers are putting on their properties. They see this as related to a shortage in sellers which has already pushed the asking price up 6.9% this year.
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Prices fall but Rightmove sees positive signs for 2013

Rightmove.co.uk recently released their November 2012 House Price Index. Average asking prices by new sellers are down -2.6%, yet the least severe fall in November for 2 years
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Asking prices for houses jump Post Olympics

The Rightmove October House Price Index sees a large jump in asking prices up 3.5% against that seen in September 2012. Key Figures & Facts Asking prices average up by £8,310 to take the average house price to £243,168 Seen as the sellers seeking to reverse the summers numerous falls during and after the Olympics. These falls totalled -4.6% All regions have seen an increase: London (4.8%), South East and West Midlands (3.9%) and North West (3.8%) Change in asking prices over the past year amount to a rise of +1.5% Yet research shows few areas of the market can justify higher values in properties than the peaks in 3007/8 The buyer appetite is very low to view a property that they believe is over-priced. Miles Shipside, director and housing market analyst at Rightmove comments: “This month’s jump of more than £8,000 in asking prices is partly an anticipated bounce...
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Asking prices up for 3rd time - but is this a true reflection?

Rightmove.co.uk has just released its House Price Index (HPI) for June, covering Asking Prices of residential property from 13th May to 9th June. It reports an increase in asking prices by 1.0% over the Month and +2.4% over the past year. This places the average asking price at £246,235. 3rd consectuive national high asking price - although deemed supported by the more robust souther regions. Asking prices aspirations fail to keep pace with retail price inflation London is the only inflation proof market - average 3% abover RPS since August 2007 Surge of Sellers coming to the market prior to the Jubilee break - which indicates higher asking prices are unlikely in the summer months due to the extra supply Miles Shipside, director at Rightmove comments: “While the national average price of property coming to market has set new records in each of the last three months, sellers should not break...
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Rightmove sees housing market unaffected by global markets

The average selling price for a house now stands at £231,543 with quite a large fall of -2.2% is asking prices since Julys HPI figures. Also Rightmove believe any impact from the recent financial jitters to be very limited as they see the market "bumping along the bottom" already.
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Rightmove Speak on Buy to Let and More…

A great interview by PS Investor Services. Now a household name, the Rightmove property portal has now become the first point of call for the large majority of the nation’s house buyers and sellers.  Launched in 2000, the company is now listed on the London Stock Exchange and recently attracted attention as being one of the only sites on the planet that Google pulled out of competing with due to its well established presence. We were therefore very grateful to be able to ask some questions to Miles Shipside – the company’s commercial director – who has had an integral role in bringing the company to where it is today.  We focus on how the company has grown over the last 10 years; maintaining its strong position; 2011 plans; searching for investment property; quality control; what makes a successful property advertisement; the overseas property market; the Rightmove property index; the role...
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