Property Prices 30 04 2008 - News Archive

Property Prices

It is believed that just under 3 million people in the UK have decided not to go ahead with moving house due to the current state of the property market. Some have opted to renovate or extend and some are simply going to wait till the market improves.

The Council of Mortgage Lenders (CML) has released figures which reveal that mortgage approvals dropped by around a third in January. The average time for a property to be on the market fell from 93 days to just 82 days recently this indicates that the market is picking up.

The average price of a property in the UK has also risen to around £240k which is 5% higher than 2007. According to Rightmove the average asking price went up by 0.8% during February and March this year which was slightly lower the January’s results. This is good news for property owners but there are still problems for those who still cannot get on the property ladder. Each month as house prices continue to rise they are getting further and further away from owning a home.
 
:: Added on: 30:04:2008 ::

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