Rightmove released its latest house price index today with the salient points as follows:
- Newly-marketed property prices at virtual standstill, up by 0.1% (+£312) as we enter quieter holiday season.
- Fundamentals remain good mid-year with robust demand, low interest rates and low unemployment:
- Sales agreed numbers remain strong year-to-date in 2017, almost identical to 2016.
- Prospective buyers in many parts of the country are seeing the highest proportion of properties marked as sold than at any time in the last seven years.
- Even with 7.6% more sellers coming to market this month compared to this time last year, buyer choice is restricted as supply fails to keep pace with strong sales and buyer demand.
- Stretched buyer affordability acting as a price brake with national average at a modest +2.8%, with buyers very price sensitive and some properties hitting their price ceiling.