Reports show jump in asking prices

23rd May 2014

A new report reveals that average house asking-prices have risen 3.6% since April.

The figure now stands at £272,003. The average asking-price for a property in London has risen by £80,000 since January, a 16.3% year-on-year increase. A stand out residential location was Tower Hamlets, where prices have skyrocketed 43% in just one year. Ben Butler, a sales manager in Canary Wharf, comments: "There are a number of cash buyers in the market and accidental landlords who have been sitting on the side-lines since 2008 taking advantage of the buoyant conditions and selling up”.

Source:   Financial Times (20/05/2014)   Evening Standard (19/05/2014)