Rightmove says, average house prices in UK just below all-time highs.
Rightmove reported this morning that the average prices sellers are asking for UK houses are just £30 below their all-time highs and could breach that peak soon as a lack of choice for buyers adds to the upward pressure on values.
The average new seller asking price across England and Wales was £281,752 in March, which is 1 per cent higher than the previous month and £30 below an all-time high recorded in June last year, Rightmove said.
In recent weeks we have reported on our site the effect pensioners may have on the property market with their ability to cash in their pension pots, infact Estate agents have already reported an uplift in interest from investors ahead of the new rules coming into force on April , buy-to-let investors cashing in their pension pots to raise larger deposits may drive prices up further at the ‘starter home’ end of the market, meaning first-time buyers could face tougher competition for homes.
Rightmove said the asking price for a typical first-time buyer home has already increased by 7.6 per cent over the last year to reach £169,414 on average.