House prices continue to soar

The average asking price for a home in Britain has been driven to a new high, following months of “frenzied” buying activity, according to Rightmove. The average price of homes coming to market has reached a fresh record high of more than £338,000, up by more than £21,000 in the past six months, according to Rightmove. The property portal said that the 0.7% monthly rise was the highest recorded since July 2007. In the first half of this year, 140,000 more sales were agreed and there were 85,000 fewer new listings than the long-term average. Rightmove estimated that there was a shortfall of 225,000 homes for sale to meet demand. Rightmove's Tim Bannister commented: "Choice is more limited compared to the same period in 2019." 

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