The newest house price data from the online property portal Rightmove reveals that the market has led to a ‘full house’ for the first time starting March 2007.
- The rising trend for a month-on-month house price continued, with the price of property coming to market up by 1.8% (+£5,983) this month, the biggest rise at this time of the year.
- The ‘full house’ property market is attributed to the constant fast turnover of property for sale, continuing the shortage of housing stock, alongside a window of opportunity to buy before a likely interest rate hike.
- Tim Bannister, Rightmove’s director of property data, stated that competition for property for sale is still hot this autumn, but this ‘full house’ is a rare occurrence.
Wales remains at the top of the region with last month’s percentage increase at 2.3%, only closely matched by the North West region, but the year-on-year growth of 11.3% is still higher than any other part of Great Britain.
FTSE 100 down -0.31%, GBP USD down -0.08%Source: Rightmove