Real Estate
UK House Asking Prices Rebound With Strongest Growth Since May
- Rightmove says buyer demand is 20% higher than before pandemic
- Lack of supply is likely to support market through recession
Residential properties in Pimlico in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
UK home sellers boosted the prices they’re asking for their properties at the strongest pace in four months, indicating the market so far is shaking off the impact of a cost-of-living crisis and higher borrowing costs.
The property listing website Rightmove said prices rose 0.7% this month after a 1.3% drop in August. Buyer demand is 20% higher than the pre-pandemic average, and the supply of homes coming to the market has returned to 2019 levels.