House prices rise for 1st time in 6 mths-Rightmove
17/10/2005 08:06
LONDON (Reuters) - Average asking prices on homes rose for the first time in six months from mid-September to mid-October, adding to growing evidence that the property market is stabilising, according to a survey on Monday.
Property web site Rightmove said house prices rose by 0.5 percent in its September 11 to October 8 survey compared with the previous period, the first time since April it has recorded a monthly price rise.
The average asking price for a property rose to 196,348 pounds from 195,407 in the last survey. Over 100,000 new properties came onto the market in that time.
The annual rate of increase held mostly steady at 1.5 percent compared with 1.6 percent in the previous survey.
The average number of unsold properties on estate agents’ books fell to 71 from 72 in the last survey, Righmove said.
The state of the housing market is a key economic indicator in Britain where most families own their own home and where fast-rising prices earlier this decade provided a feelgood factor for many consumers.
Rightmove director Miles Shipside said that while the market appeared to be having a soft landing, a full recovery was still some way off.
"Don’t expect the market to take off again until a refuelling by more first time buyers, lower mortgage rates, and a continuation of realistic pricing by sellers and their estate agents," he said.
Rightmove director Miles Shipside said that while the market appeared to be having a soft landing, a full recovery was still some way off.
"Don’t expect the market to take off again until a refuelling by more first time buyers, lower mortgage rates, and a continuation of realistic pricing by sellers and their estate agents," he said.
News source
17/10/2005 08:06
LONDON (Reuters) - Average asking prices on homes rose for the first time in six months from mid-September to mid-October, adding to growing evidence that the property market is stabilising, according to a survey on Monday.
Property web site Rightmove said house prices rose by 0.5 percent in its September 11 to October 8 survey compared with the previous period, the first time since April it has recorded a monthly price rise.
The average asking price for a property rose to 196,348 pounds from 195,407 in the last survey. Over 100,000 new properties came onto the market in that time.
The annual rate of increase held mostly steady at 1.5 percent compared with 1.6 percent in the previous survey.
The average number of unsold properties on estate agents’ books fell to 71 from 72 in the last survey, Righmove said.
The state of the housing market is a key economic indicator in Britain where most families own their own home and where fast-rising prices earlier this decade provided a feelgood factor for many consumers.
Rightmove director Miles Shipside said that while the market appeared to be having a soft landing, a full recovery was still some way off.
"Don’t expect the market to take off again until a refuelling by more first time buyers, lower mortgage rates, and a continuation of realistic pricing by sellers and their estate agents," he said.
Rightmove director Miles Shipside said that while the market appeared to be having a soft landing, a full recovery was still some way off.
"Don’t expect the market to take off again until a refuelling by more first time buyers, lower mortgage rates, and a continuation of realistic pricing by sellers and their estate agents," he said.
News source