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UK Housing Market Frenzy Shows Signs of Slowing, Rightmove Says

  • Asking prices hit new high, rents climb at record pace
  • Mortgage payments exceed rents for first time since August
The typical monthly payment for first-time buyers has risen 13% since December.

The typical monthly payment for first-time buyers has risen 13% since December.

Photographer: Jason Alden/Bloomberg

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Asking prices for UK homes rose to a new record for a fourth-straight month, though there are signs the market is starting to ease.

Rightmove Plc said price sellers are seeking when putting properties on the market rose 2.1% in May, the highest for the month since 2014. That marks a £55,551 ($69,275) jump since the housing market was halted at the start of the pandemic, almost 10 times the £6,218 increase in the two previous years.