London property asking prices rise despite falls in northern regions

Summarised from 2 outlets · 3 reports · Updated 19 Oct, 02:31 · Archive

London property asking prices rose by 2.5 per cent last month, whilst prices fell in northern regions, according to Rightmove.

London property asking prices rose by 2.5 per cent between mid-September and mid-October, according to Rightmove's analysis of 104,164 asking prices for homes newly listed during that period. In Inner London, the most expensive part of the capital, prices went up by 3.9 per cent. Rightmove noted that sellers are hoping to take advantage of buyers who want to be in a new home by Christmas.

This followed a weak summer for London, where asking prices had fallen by 6 per cent across July and August. The autumn rise represents a recovery, though asking prices remain 1.7 per cent below where they were a year ago.

Meanwhile, sellers in more affordable parts of the country reduced their asking prices. The North East saw asking prices fall by 2 per cent, Scotland by 1.9 per cent and the North West by 0.6 per cent. Across the country as a whole, asking prices fell by 0.1 per cent in the period measured, though they rose by 1 per cent compared to the same time last year.

How it is being reported

• UK house prices jump £3,575 in October - but Rightmove reveals brutal catchIn London, the average asking price jumped by 2.5% month-on-month to reach just under £674,000.Daily Express · 19 Oct, 04:00
• London property asking prices see surprise autumn spike... as sellers in the north cut theirsAsking prices fell slightly in the last month as mortgage rates begin to bite - but homes in London saw an unexpected rise, according to Rightmove.Daily Mail · 19 Oct, 00:01
• London property asking prices see surprise autumn spike... as sellers in the north cut theirsAsking prices fell slightly in the last month as mortgage rates begin to bite - but homes in London saw an unexpected rise, according to Rightmove.This is Money · 19 Oct, 00:01

In this story: London · Inner London · North East · Scotland · North West · Rightmove

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem