At the beginning of the year Rightmove suggested a more positive outlook for 2013 and forecast average national asking prices would rise by around 2%.
Given what we’ve seen over the first half of this year, we expect the average asking price of property coming to the market in England and Wales to end 2013 around 4% higher.
While the current annual rate stands at 4.8%, in recent years the gains of the first-half of the year have been eaten away in the second.
Between June and December last year, asking prices fell by 7%. The signs are that prices in 2013 will not dissipate as they have in recent years.
Shipside comments: “There will be significant underlying regional variations with some areas, primarily in the north, struggling to stay in positive territory for the year. London will continue to outperform the rest of the country and we also expect the South East, the main beneficiary of the ‘over-spill’ from the capital, to maintain its strong momentum, both driven by an on-going shortage of supply of property for sale.
"Asking prices in the capital are currently 29% higher than they were five years ago compared with 7% in the South East and just 5% nationally."
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