Two per cent rise in house prices recorded

Posted: 21 Apr 2009 13:03:27 GMT

Asking prices rose by almost two per cent between March and April this year: the third price rise in as many months.

Property website rightmove.co.uk noted the price rises in its monthly House Price Index, which tracks asking prices.

The typical asking price now stands at £222,077, up from £218,081 in March this year.

However, although the asking prices may be rising, the number of properties sold remains particularly low, as mortgage availability remains one of the crucial factors affecting the strength of the property market.

Potential buyers put off by the rising asking prices though may benefit from buying a home online, as avoiding the use of estate agents could save a significant amount of cash.

Speaking about the house price index Miles Shipside, commercial director of rightmove.co.uk, said: "It looks like we are now bumping along the bottom of the trough, but for there to be any real sense of optimism that we’re on a sustainable road to recovery, the availability of mortgage finance needs to improve significantly.

"Mortgage activity is currently running at around a third of its average levels between 2002 and 2007."


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