"With new sellers asking more than ever before as we enter the traditionally busy spring market"
- Rightmove director and housing market analyst Miles Shipside
The average asking price for property in Britain soared to its highest level ever recorded for the month of March, as the market begins to see encouraging signs of activity, according to the Rightmove House Price Survey. The average price of newly marketed property climbed to £239,710 or by 1.7% in March, reaching pre-crisis level. Year-over-year, prices surged 1.2%, a sign that the spring boost should result in a sales pick-up in 2013. The report also showed increased volume of property inquiries and a higher level of engagement, also reflecting that the property market is gaining momentum. Even though asking prices are not always matched by eventual selling prices, they can be a good indication of trends. Meanwhile, volumes rocketed 12% from a month ago, while the amount of unsold homes has stayed practically the same, suggesting that the number of properties for which sales are being agreed is growing.
"In today's turbulent world where economic crises seem more likely to re-appear than disappear, any market upturn will take longer to build home-mover confidence to the point that it starts to feed through to actual transactions, Rightmove director and housing market analyst Miles Shipside said. "However, with new sellers asking more than ever before as we enter the traditionally busy spring market," he added.
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