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20/02/2006
Average house prices rise above £200,000
The average asking price of a house in England and Wales has risen to over £200,000, a new survey has revealed.
Property website Rightmove said that the asking price of properties increased by 2.7% last month, driven by increased demand from buyers and a shortage of sellers.
It is the largest monthly rise for almost two years.
Rightmove said that the average house price in England and Wales now stood at £201,600 - rising from £196,319 in January.
Asking prices rose in every area in England and Wales during February for the first time in 20 months.
The West Midlands and East Midlands reported the strongest rises, with 6.2% and 4.6% respectively. Wales had the lowest rise, with prices increasing by just 1.1%.
Rightmove also found that the average number of days it took to sell a property had also decreased - dropping from 94 days to 81.
Rightmove Commercial Director, Miles Shipside, said that the market had "picked up quickly" this year. He said: "Properties are selling more quickly and stock levels are declining. Buyers are back, particularly at the lower end of the market. We believe this will lead to further sales as successful sellers move up the property ladder."
(KMcA)
Property website Rightmove said that the asking price of properties increased by 2.7% last month, driven by increased demand from buyers and a shortage of sellers.
It is the largest monthly rise for almost two years.
Rightmove said that the average house price in England and Wales now stood at £201,600 - rising from £196,319 in January.
Asking prices rose in every area in England and Wales during February for the first time in 20 months.
The West Midlands and East Midlands reported the strongest rises, with 6.2% and 4.6% respectively. Wales had the lowest rise, with prices increasing by just 1.1%.
Rightmove also found that the average number of days it took to sell a property had also decreased - dropping from 94 days to 81.
Rightmove Commercial Director, Miles Shipside, said that the market had "picked up quickly" this year. He said: "Properties are selling more quickly and stock levels are declining. Buyers are back, particularly at the lower end of the market. We believe this will lead to further sales as successful sellers move up the property ladder."
(KMcA)
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