Rightmove re­ports 0.5pc rise in prices

Yorkshire Post - Property - - PROPERTY -

HOUSE prices grew by 0.5 per cent in Oc­to­ber, driven by a widen­ing gap be­tween sup­ply and de­mand and above av­er­age growth in Lon­don and the South East, says Rightmove.

The sup­ply of homes for sale fell by 1.6 per cent fol­low­ing a 0.3 per cent de­cline in Septem­ber.

Growth in new sales is run­ning at four to five per cent per month, which is erod­ing the stock of homes for sale. In con­trast, lev­els of de­mand have grown by three per cent in the last two months.

Im­prov­ing con­fi­dence among buy­ers has been fu­elled by low mort­gage rates and pos­i­tive news on a re­cov­er­ing hous­ing mar­ket.

In York­shire, prices rose by 0.2 per cent, the num­ber of homes on the mar­ket fell by 1.8 per cent and sales were up 5.7 per cent.

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