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19 Feb 08 - House Prices Enjoy 3.2% Increase
House prices have risen by 3.2% in the past month, new
figures show.
Prices surged to put the average cost of a home in England
and Wales at £239,856 - a rise of more than £7,400
during the four weeks to February 9, according to propertywebsite Rightmove.
But the group warned that while there were signs of renewed
optimism among sellers, the figure was likely to have been
distorted by the final rollout of the Government's Home
Information Packs (Hips).
At the same time the surge may simply be correcting a 3.2%
slide in prices seen during December.
And it is traditional at this time of year for asking prices
to be driven up with new sellers testing the market with
exaggerated prices, the group said.
But a shortage of properties being put on the market has
exaggerated the seasonal boost with estate agents left competing
for business, the group added.
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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