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.

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.

Key Facts:

  • New seller asking prices up by 2.1% (+£4,996) this month to £244,706, the highest April figure ever recorded
  • Fourth consecutive rise sees property coming to market up by 6.9% (+£15,717) so far in 2013, the second highest national figure ever recorded and within £1,529 of all-time high
  • Combination of more positive market sentiment and seller shortage fuel upward price pressure:
    • number of newly marketed properties down 4% compared to same period last year
    • gap between last advertised asking price on Rightmove and sold price narrows to 2.95%

 

Miles Shipside, director and housing market analyst at Rightmove comments:

“Transaction volumes may be historically low but, paradoxically, new seller asking prices are within a grand and a half of a new record high. With mass-market buyers still sitting on the sidelines, the size of the active market is a lot smaller, making it easier for an upswing in activity to feed through to an upturn in prices. With London prices pausing for breath this month but likely to bounce back next, May looks like an odds-on bet to deliver a new asking price record.