Housing market hots up as prices rise

Average asking prices increased by 3.3 per cent last month
Average asking prices increased by 3.3 per cent last month
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Asking prices for houses jumped again last month, while the time taken to sell a home has fallen to its lowest level since 2007 as sellers cash in on fast-growing demand.

Rightmove, the online property group, said that sellers had ramped up average asking prices by 3.3 per cent, or £8,103. The average property coming to the market is now priced at £251,964, up 6.9 per cent, or £16,223, on a year ago.

Miles Shipside, a director at Rightmove, said: “The market rebound continues. While February is historically a positive month for prices of property coming to the market, this is the second-highest February rise since our index began in September 2001. Those contemplating trading up, down or out may well be encouraged to come