UK DATA: Rightmove UK March House Asking Prices Rise
–Rightmove: UK March House Asking Prices +0.8% m/m; +0.9% y/y
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New sellers increased their asking prices by 0.8% to an average of
stg231,790 in March, leaving year-on-year prices 0.9% higher,
according to Rightmove’s latest House Price Index Survey. After a
sharp 3.0% monthly fall in December, Rightmove’s House Price Index has
now risen for three consecutive months. The survey also shows average
time properties spend on the market falling from 98 to 89 days,
suggesting a pick up in activity. House asking prices can be interpreted
as a leading indicator of house price movements, but there is no
certainty of asking prices being met and the market still appears to be
sluggish by historic standards.