Asking prices on the rise

Posted: 04 May 2007 11:50:13 GMT

New research has shown that UK property asking prices are rising at their fastest for five years.

New research has shown that UK property asking prices are rising at their fastest for five years.

The UK Housing Report by Rightmove showed that the monthly increase in asking prices now stands at 3.6 per cent, Homesgofast reports.

At the same time, the number of unsold properties is at its lowest level since June 2004.

The situation, which gives house sellers the chance to ask for higher prices as supplies of available stock are low, has been exacerbated by the lack of affordable homes for key workers.

Around 1.6 million people, including many key workers, are currently on a waiting list for affordable homes built under schemes introduced by the government according to the National Housing Federation, reports Hot Property.

In an attempt to create more of a buyer's market, the government will need to do much more to develop brownfield sites, the Town and Country Planning Association (TCPA) has argued.

The TCPA believes that such sites offer the solution to Britain's housing shortage, Hot Property reports in a separate article.


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