Rightmove's September House Price Index put the average new asking price in Britain at 367,440 pounds after a 0.7%, or 2,441 pound, rise. The Independent called it the first monthly gain since May. The Intermediary added that buyer enquiries were 9% lower year on year and that two-year fixed mortgage rates moved from 5.09% to 5.29%.
The Independent reported Rightmove's House Price Index: the average asking price of a newly listed home rose 0.7 percent, or 2,441 pounds, to 367,440 pounds across Britain in September. That was the first monthly increase since May and above the 0.5 percent decade-long September average. Prices remain 0.8 percent lower than a year earlier and 2.3 percent below the start of summer. Stock of homes for sale is at a 12-year high for the time of year.[1]
The Intermediary, dated 20 September, said buyer enquiries were 9 percent lower year on year, new listings fell 3 percent and agreed sales were down 9 percent. Homes took 64 days to find a buyer and 150 more to complete. The average two-year fixed mortgage rate rose from 5.09 percent in August to 5.29 percent in September. Prices remained 0.8 percent lower than a year earlier on that page too.[2]
The Independent said a listing has about a 61 percent chance of finding a buyer: 91 percent in Scotland, 71 percent in the North West, 56 percent in the South East and 42 percent in London. Some 74 percent of homes sold this year were priced right first time. Rightmove's Colleen Babcock said sellers need to be realistic on price. The Intermediary's weaker enquiry print sits beside that map: the monthly asking-price rise is small against a 12-year stock pile.[1], [2]
