Rising house prices in the uk

According to a recently released study by the property website, Rightmove, the average asking

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prices for UK homes showed the strongest annual price rise for over a year during the period from mid-April to early May. The report has caused Rightmove to revise its original estimates for the price increases for 2006, up from about 5 per cent to 8 per cent as a shortage of attractive properties being available for sale is helping to push up general house prices across the UK.

The figures showed that asking prices rose for the fifth consecutive month as the supply of homes has again not kept pace with the current levels of demand. This has taken the average asking price for a UK residential property to £209,829.

This latest report reinforce other house price surveys from mortgage lenders such as the Halifax, with the combined figures suggesting that the country's housing market is gradually ( personal loans ) picking up again following a period of stagnation between mid-2004 and late 2005.

Rightmove have been keen to point out that there are currently no signs that the increased pressure placed on the incomes of buyers by the rise in the housing index was causing serious harm to the housing market. They did say however that house price inflation was unlikely to continue climbing at its ( life insurance ) current pace.

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