Asking prices soar for London homes

Julian Harris
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ASKING prices for London homes surged to their highest ever level this month, a Rightmove index reveals today.

Sellers’ prices spiked 1.6 per cent in April, to an eye-watering average of £431,013, the property website said.

Across the UK as a whole, average asking prices stand at £235,822, after an even sharper rise (1.7 per cent).

However, steep asking prices are optimistic, given the ongoing difficulties purchasers face.

High supply and low demand resulted in the largest monthly jump in agents’ unsold stock since May 2007, the index showed.

Yet March saw a surge in the annual growth of new homes, according to a separate survey by Smart New Homes, also released today.