LONDON (dpa-AFX) - UK house prices increased for the first time in four months in September, reflecting early signs of the usual increase in activity seen during the Autumn period, property website Rightmove said Monday.
Average asking prices increased 0.7 percent month-on-month in September, marking the first rise since May.
The increase was also bigger than the ten-year September average of 0.5 percent. Rightmove observed that September is usually a busier period, as potential movers return from holidays and refocus on buying and selling plans for the rest of the year.
Nonetheless, prices remained 0.8 percent lower than in the same period last year and 2.3 percent below from the start of summer.
The website noted that the market is challenging for sellers as the number of homes available on the market for sale remained at a 12-year high for the time of year and affordability still stretched for buyers. Demand for buyers was 9 percent lower than this time last year.
Further, Rightmove pointed out that accurate and competitive initial pricing is a critical factor in securing a sale.
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