"Upwards price-pressure [in the housing market] is likely to be maintained in 2012"
- Miles Shipside, commercial director of Rightmove
U.K. house prices rose sharply in February, said the nation's largest property website Rightmove.co.uk on Monday. Average asking prices rose to 233,252 pounds, up by 4.1 per cent from January, the highest monthly increase since April 2002. Prices in the U.K. capital rose 2.5 per cent from January to 449,252 pounds.
"Confidence in bricks and mortar in the capital seems set to continue, with 'seller-power' twice as strong in London compared to the rest of the U.K.," Miles Shipside, commercial director of Rightmove, said in a statement. "Upwards price-pressure is likely to be maintained in 2012."
"The biggest jump in new sellers' asking prices for nearly 10 years indicates there is pricing power if you are selling the right type of property in the right place where enough potential buyers have access to funding."
© Dukascopy Bank