New London seller asking price is up!

New seller asking prices have gone up 3.1% (+£18,699) compared to the last month and due to a number of more expensive properties entering the market.

The increase is party contributed to sellers of more expensive properties coming to the market after their traditional summer holiday recess.

The annual rate which is 2.5% below compared to that of last year which is explained with more sellers chasing fewer buyers.

• Annually, there has been a 2.5% fall in property asking prices in the Capital

• Average time to find a buyer in London equals 65 days

• Greater London average asking price for September 2017 is £610,912

• Inner London average asking price stands at £752,994

• Outer London average asking price is £515,980

• The toughest market at present is the sector made up of properties with five bedrooms or more and four bedroom detached, with this top-of-the-ladder category taking a current average marketing time of 86 days in London. This extra time to sell London’s upper-end properties is influencing overall market activity in London, contributing to the 9.0% decrease in the number of sales agreed compared to the same period a year ago. 

The index monitors changes in house prices both annually and monthly, providing a comprehensive view on the current state of the property market in England and Wales. The index is based on circa 90% of newly marketed property advertised on Rightmove.