Average price tag on property across Britain increases by 0.7% month-on-month in September
THE average price tag on a home increased by £2,587 or 0.7 per cent month-on-month in September, according to a property website.
The average asking price across Britain of a property coming to market is now £367,760.
The price increase is in line with the average September rise of 0.6 per cent over the last ten years, Rightmove said.
Price growth this month is driven by middle and high-end sales.
Rightmove’s housing expert Tim Bannister revealed Friday’s mini-budget announcement may stimulate more demand.
The Government announced a stamp duty cut for first-time buyers in England and Northern Ireland.
This comes as demand has been softening over the past few months.
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He said: “If it does lead to a big jump in prospective buyers competing for the constrained number of properties for sale, then it could lead to some unseasonal price rises over the next few months.
“But because the change is permanent, we expect to see a more gradual increase in demand compared with the surge when the temporary stamp duty holiday was announced in 2020.”