21
Apr
London defies asking price trend
A new survey has indicated that asking prices are rising in every
region of England and Wales, with the exception of London.
The average amount being requested by sellers in April rose 1.8 per
cent from March, increasing from £218,081 to £222,077,
with seller numbers up 22 per cent.
East Anglia saw the largest jump, up 5.1 per cent during the
month.
However, in London the average amount being asked was down 3.2 per
cent over the same period, from £399,867 to £387,161 with
only three of its boroughs seeing asking prices increasing.
Commenting on the trend, Rightmove's commercial director Miles
Shipside commented that the market now appears to be "bumping along
the bottom of the trough", but noted that "thankfully", mortgage
funding is starting to increase, a factor he deemed necessary for
recovery.
The most recent Land Registry figures - which covered the year up
to February 2009 - revealed that the average house price in London
had fallen 15.6 per cent in the previous 12 months, compared with
16.5 per cent for England and Wales as a whole.
