Average asking prices for UK properties soar to record high with 10% rise in last year
The Independent says Average asking prices for UK properties have jumped £55,000 since the start of the pandemic, with no slowdown in the “frenetic” market despite the cost of living crisis, new figures show.
Rightmove said asking prices rose by £7,400 (2.1 per cent) between April and May, taking the average to a new record high of £367,501.
It means prices have risen 10.1 per cent in the past year, despite fears for the health of Britain’s economy.
The property website found that a fourth successive interest rate rise by the Bank of England had done little to dampen demand.
The Bank increased its main benchmark interest rate to 1 per cent earier this month and has signalled further increases are in store as it seeks to control runaway inflation.
https://www.independent.co.uk/news/business/uk-property-asking-prices-latest-b2085420.html
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