UK DATA: Rightmove: UK House Asking Prices See March.

UK DATA: Rightmove: UK House Asking Prices See Smallest March Rise
–Rightmove: UK March House Asking Prices Up 0.1% m/m; Up 5.3% y/y
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UK house asking prices edged up in March, according to Rightmove’s
survey, rising 0.1% on the month, after surging 3.2% on the month in
February. Rightmove said the 0.1% increase was the lowest rise ever
recorded in March. The supply of properties on the market surged, rising
to an 18 month high. In the Rightmove data series, the average monthly
increase in March between 2002 and 2009 was 1.3%. Rightmove said there
was a 34% rise in properties coming on to the market in March, which
weighed down on asking prices. Most of the latest UK housing market
surveys have suggested the rally in house prices has stalled. The
Nationwide house price survey showed prices down 1% on the month in
February and Halifax reported a 1.5% fall. The Rightmove survey is the
first of the March crop.