Rightmove’s October index shows homes for sale at their highest since 2014, with average asking prices at £371,015, down 0.1% on the year, as sellers in the North East and Scotland cut prices.
Rightmove’s summer analysis finds Birkenhead and Wallasey each drew 30 renter enquiries per available home, as North West demand outpaced the national average.
Rightmove reports September asking prices rose 0.7% to £367,440 while homes for sale reached a 12-year high.
Rightmove has added a Section 13 rent review tool to Tenancy Manager, allowing letting agents to create and serve rent increase notices from tenancy records after the Renters’ Rights Act changes.
Rightmove says a glut of London flats is driving sharper August asking-price cuts in the capital, with sellers cutting harder where stock has piled up and buyer competition has weakened.
Rightmove says the average home sale in Great Britain now takes 216 days from listing to completion, leaving landlords facing a longer and more uncertain route out of the market when they decide to sell.
Rightmove says pet-friendly rental searches fell 54 percent in May after the Renters’ Rights Act switch, pointing to renters asking later rather than filtering listings at the search stage.
Rightmove says the average asking price of a newly listed home fell 1 percent in July, while homes for sale stayed close to a 12-year high and first-half sales agreed ran 6 percent below a year earlier.
Rightmove says Manchester asking prices rose 63 percent over the past decade, the strongest growth among major British cities, while London recorded the weakest 10-year gain at 7 percent.
Average advertised rents outside London were flat at £1,370 per calendar month in the first quarter, marking the first start-of-year pause since 2017 as tenant…