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Rightmove Estate Agents Warn Of Boom Mentality House prices have risen sharply in the last four weeks, figures show. The average asking price rose 2.3%, from £189,509 to £193,830, claimed Rightmove.

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Rightmove Estate Agents Warn Of Boom Mentality

February 21, 2005 at 7:25 PM

House prices have risen sharply in the last four weeks, figures show. The average asking price rose 2.3%, from £189,509 to £193,830, claimed Rightmove. But it said the increase was unlikely to be sustained because it was being fuelled by “unrealistic” sellers and estate agents unable to shake off the spring boom mentality of recent years.

February saw a record surge of 132,000 newly marketed homes, which are competing against a large existing supply. It means there is 30% more property available than last February. The time properties spend on the market fell slightly, from 87 to 85 days, but still remains far longer than last summer’s 53 days. 



Tags: Right Move Estate Agents
Category: Estate Agents

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