Houses back on the up
Seller's asking prices jumped by 9% month-on-month in September to reach £264,875 on average across England and Wales, Rightmove said.
Asking prices have recorded a typical monthly fall of 0.5% in September over the last 10 years, as the market usually takes a little time to gear up again after the summer holidays.
Miles Shipside, director of Rightmove, said: "We usually see a price fall at this time of year as potential home movers are generally still in holiday mode.
However, it looks like there are early signs of a bounce-back in demand after the summer lull, leaving those estate agents with a shortage of stock at a potential disadvantage and therefore eager to attract new instructions.'
The area with the biggest month-on-month jump was East Anglia, with a 3.7 per cent rise pushing the average price to £249,860.
The sharpest month-on-month fall was recorded in the West Midlands, where prices decreased by 1.8 per cent to reach £194,077. Londoners saw price inch up by 0.9% over the month to £557, 792 on average, and asking prices are 13% higher than they were a year ago.
It is the first time since 2011 that prices have increased at this time of year.
TOPICS: Real Estate