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SELL YOUR HOME QUICKLYAre UK House prices on the rise?
After months of falling property prices, “Aboutproperty” today reported an average increase of 1.2 percent in house prices during May. The increase, seen in property prices across England and Wales, was noted in “Rightmove” latest property price index.
According to the survey, the annual rise in house prices has been somewhat restored, and is currently sitting at 2.2 percent, says “Aboutproperty”. This is a fairly significant increase since the month of April, when the figure was at just 1.3 percent.
But don’t be fooled into believing that this signals an overall recovery in the market, warns “Rightmove”. The increase is most likely due to what it calls “discretionary spring sellers” – those who are selling big homes in the south of England and thereby inflating the average UK house prices. This claim is supported by the fact that, in the south, asking prices rose by 4.2 percent this month.