Asking prices for UK homes rise at highest rate in seven years

Property website Rightmove has said that UK asking prices for homes rose at the quickest pace in more than six years over the past 12 months, regardless of a huge rise in new listings coming onto the market.

Britain's economy has been growing faster than most of its peers, with the housing market especially benefiting from record-low interest rates, the government-backed Help to Buy scheme and low unemployment.

Month-on-month the rise in property prices increased to 3.3 percent in February's survey – up from 1.0 percent in January. Rightmove said this month has been a very strong month for asking prices, and added that the latest rise was the second biggest for February since the index began 13 years ago.

For more information on this click on the source below:

Reuters