UK house price report records strong rise

The average asking price for homes in England and Wales has recorded unusually strong growth in the past month, according to the property website Rightmove. The increase of 2.8 per cent in the four weeks to 10 October over the previous four-week period is one of the sharpest four-weekly rises Rightmove has ever recorded. It is the seventh time the website has recorded positive growth since February, compared with only two declines. The average asking price, at £230,184 is now 0.2 per cent higher than a year ago, when UK and global financial markets seized up. The largest increases are in London, where increased interest from buyers drove asking prices up by 6.5 per cent over the previous four weeks, says Rightmove.