'Window is closing' on bargain property for sale

Posted: 21 Jul 2009 10:51:34 GMT

A new real estate price index has revealed that the chances of finding bargain property for sale could be ending.

Rightmove revealed that the average residential property asking price in Britain has increased by 0.6 per cent over the past month, with the typical home on the market now costing around £227,864 compared to £226,436 in June.

It is the fifth monthly rise reported by the Rightmove index so far in 2009 and suggests that the opportunity for buyers to find a real bargain could be disappearing as the market shows signs of recovery.

Miles Shipside, commercial director at Rightmove, said: "With growing confidence that we've passed the bottom, buyers are more active, although they may discover that many of the best buys have gone."

Last month, the index reported a fall in asking prices by 0.4 per cent but still with prices up by six per cent compared to January's figures.

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