Home Asking Prices Rise 'At Six-Year High'
Asking prices for homes have hit their biggest year-on-year rise in more than six years, according to a survey.
Website Rightmove said February's asking prices are now at an average of £251,964 across England and Wales.
It said this is 6.9% higher than a year ago, amid ongoing demand from would-be buyers.
The rise is the highest since November, 2007.
New sellers' prices are now £16,000 higher than a year ago.
Rightmove said that on a month-to-month basis, asking prices were up 3.3% across the country.
It said that in some areas there has been a further influx of would-be sellers, which would ease actual prices as supply increases.
However, there has been a regional growth disparity in asking prices.
It said London asking prices were up 11.2% in a year, taking average home values to £541,313.
Whereas in the North East, average asking prices rose just 0.1% to £142,372. It said prices in Wales were up 2.3% to £165,055.
It said the number of new properties listed on the website has averaged 27,768 during the last month, nearly a fifth higher than the same period in 2013.
Rightmove director Miles Shipside said: "The housing market can only help to support a wider economic recovery if there is a sustained boost to property supply and not just buyer demand, and there is some early evidence that this is happening.
"However, supply and demand imbalances remain and are getting worse in many markets, as a result of years of under-provision of additional housing stock, especially in the areas where the local economy and employment are strong."
The Government's flagship Help to Buy scheme has helped to boost demand in the market, prompting mortgage deals for some buyers with deposits as low as 5%.
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