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UK property asking prices rise by least since 2009 - Rightmove

Infra News - Published on Wed, 20 Feb 2019

Image Source: Euronews
Reuters quoted property website Rightmove as saying that asking prices for British homes rose by the least in a decade over the past year, adding to signs of a slowing housing market ahead of Brexit. Rightmove said prices for newly advertised property were up by just 0.2 percent in February compared with a year earlier, the smallest increase since 2009, although they increased by 0.6 percent on the month, in line with the seasonal average.

According to official data, with wages rising at an annual rate of more than 3 percent, the affordability of houses was improving at its fastest since 2011, the company said.

Rightmove housing market analyst Miles Shipside said that "In theory the scene would be set for an active spring if it were not for the uncertain political backdrop."

However, Britain is on course to leave the European Union without a transition deal on March 29 unless Prime Minister Theresa May can broker a revised agreement with the bloc that is acceptable to her divided party and parliament.

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Posted By : Rabi Wangkhem on Wed, 20 Feb 2019
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