Average asking price hits record high

The average asking price for homes in UK has hit a record high of £317,281, according to the property website Rightmove.

A 1.2 per cent rise in overall asking prices marked the fifth monthly consecutive rise, with analysts arguing that the build-up to the general election, as well as further uncertainty caused by Brexit negotiations, was failing to knock broader market momentum.

Rightmove figures showed that families with children under the age of 11 were twice as likely to be moving home as the average person, with larger properties in school catchment areas proving highly attractive.

Miles Shipside, Rightmove director and housing market analyst, said: “As well as that shrinking house feeling, parents with young children also have the pressures of travelling times to amenities as well as the weekday school commute. These have to be balanced against under-pressure finances, even more so when the sector with the property type that suits them best is seeing the biggest price jump.

“What seems to be happening is that moving pressures are understandably taking priority over electioneering and Brexit worries. For many in this group, it seems that moving is definitely on their manifesto.”