Average asking prices reach record high

Average property prices reached a record high of £312,625 in March, according to Rightmove. Across the UK, average seller asking prices in March were £3,226 higher than in February. The new all-time high beat a previous record set in June 2018 by £3,186. Asking prices in March are up by 3.5% compared to last year. “The average asking prices of over 110,000 properties that have come to market this month are at a record high as we enter the traditionally busy spring moving season,” commented Miles Shipside, a director at Rightmove. “As a result, we are measuring the highest annual rate of increase since December 2016,” he added. The average time to sell a property is now 67 days.

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