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

News at Eden Harper | 20/02/2014


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.

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Reuters

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