Capital misses out on British boom in house asking prices

Tim Wallace
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A SHORTAGE of houses has sent asking prices up 6.9 per cent so far this year, though the market has paused in the capital, according to new figures published today by Rightmove.

The 2.1 per cent rise in April has pushed the average asking price to £244,706, up 0.4 per cent on the year.

The increase takes prices to their second-highest level ever, just £1,529 short of previous record high levels.

London prices are not moving as rapidly, dipping 0.5 per cent on the month to an average of £493,635.

However that represents a pause rather than a trend as asking prices in the capital remain up 6.2 per cent – or £28,691 – on the year.

“From the perspective of both the weather and property price rises, spring appears to have been put on hold in the capital,” said Rightmove’s director Miles Shipside.

“The traditional spring-time boost to prices has failed to materialise in April, though with a track record of heady rises over the last 12 months it is perhaps not surprising that London is pausing for breath.”