Property prices rise 5 per cent
THE average price of a home hit a record high of £ 323,530 this month, according to a property website.
Asking prices were 1.1 per cent higher – £ 3,534 on average – than in September, Rightmove said.
This is 5.5 per cent higher than a year ago, marking the biggest rate of increase for more than four years.
Experts said the annual rate of price growth could peak at seven per cent by the end of this year.
Optimistic
But some sellers may be getting too optimistic about what people will pay, the report said.
Tim Bannister, of Rightmove, said: “Many buyers seem willing to pay record prices for properties that fit their changed post- lockdown needs – though agents are commenting that some owners’ price expectations are now getting too optimistic.”