UK property asking prices jump to record £348k in February21 Feb 2022 06:10
Pedro Goncalves·Finance reporter
Mon, 21 February 2022, 12:01 am·3-min read
New property listings are up 11% compared to the same period last year
New property listings are up 11% compared to the same period last year. Photo: Getty
Property asking prices are up 9.5% this month compared to last year, with houses coming to the market at a record high.
According to data from property site Rightmove (RMV.L), the average asking price increased by 2.3% — or £7,785 — in February to a record of £348,804, the biggest monthly jump in pounds recorded by Rightmove in over twenty years.
Prices are now 9.5% higher than a year ago, the highest annual rate of growth since September 2014.
This new record means that average asking prices have now risen by nearly £40,000 in the two years since the pandemic started, compared to just over £9,000 in the previous two years.
The price growth was driven primarily by the “second stepper” sector — those who may find themselves in need of more space and are now ready to move on from their first homes.
https://uk.finance.yahoo.com/news/property-asking-prices-jump-to-record-348-k-in-february-000117278.html