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Average property asking price tops £150,000

The average asking price for a house across the UK broke the £150,000 mark in Sept-ember, according to property website Rightmove.co.uk.

Its real-time property rep-ort shows an upswing in asking prices as the national average rose by 2.3 per cent to £151,429 in September from £148,024 in August.

The firm says this shows the market strengthening compared with the summer months when rises of around 1 per cent were seen.

The report, which bases its findings on the asking prices of properties sold by Right-move&#39s 2,900 member estate agents, says the average price has risen by 22.2 per cent over the past 12 months from £123,918. It says limited availability of good-quality homes and sustained demand are contributing to the price increases.

Rightmove says its average prices are usually higher than those found in surveys based on the Land Registry because it covers transactions likely to complete in early 2003 relating to properties currently on the market.

Rightmove.co.uk housing expert Miles Shipside says: “The shortage of properties coming on to the market in many areas means that it is still a seller&#39s market, particularly in the lower-price and middle-price brackets.

“This shortage and continuing demand are resulting in renewed increases in asking prices overall. It is partly fuelled by homeowners having to buy in cheaper areas, thus pushing up prices in those areas as well.”

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