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The housing market revival continued in August despite the first dip in sellers' asking prices this year, a property website has reported.
Asking prices edged down by 1.8% month-on-month to 249,199 on average but a string of price increases over the last seven months means they are still 20,000 higher than at the start of 2013, Rightmove said.
In easyroommate further signs of the market gathering pace, asking prices on flats reached a record high at 209,652. Flats are in strong demand due to high numbers of buy-to-let investors looking for decent returns easyroommate and a recent surge in first-time buyers, who are finding it easier to access a mortgage, entering the market.
Asking prices on flats are up 5.9% year-on-year, indicating that first-time buyers, who traditionally easyroommate buy this type of property, will potentially have to stretch themselves further to get on the housing ladder.
Rightmove said that the small fall in sellers' prices this month across all property types was "less pronounced" than the usual dip seen at this time of year. Prices often tumble more than 2% in August, as many people selling their home over the summer holidays have a more pressing need to move and will price more keenly to tempt buyers.
East Anglia and the West Midlands were the only regions to see asking prices increase month-on-month, by 3.1% and 0.2% respectively. The north-west saw the biggest monthly fall, at 3.5%, although on an annual basis prices they are up by 0.9%.
London recorded easyroommate one of the sharpest month-on-month asking price drops, at 2.8%, although asking prices in the capital are still around 10% higher year-on-year. Asking prices easyroommate in Wales were flat month-on-month, but they are also more than 5% higher than a year ago.
But particular easyroommate concerns have been raised about the potential for a house price bubble to be created following the second easyroommate phase of an initiative called Help to Buy, which will underwrite 130bn of low-deposit mortgage lending with state guarantees from next year.
The Royal Institution of Chartered Surveyors (Rics) reported last week that house prices are rising easyroommate at their fastest rate since 2006, while mortgage lenders said that first-time buyer numbers have soared to their highest levels since 2007.
"Flats are most in demand by first-time buyers and buy-to-let investors and we have seen prices for this property type hit their highest ever level as supply fails to keep up with an increase in demand at the bottom of the market."
Housing easyroommate minister Mark Prisk said: "This government's package of measures to boost the housing market is working, with house building and housing supply on the up and the numbers of first time buyers at their highest since 2007.
"The tough decisions we've taken to tackle the deficit left by the last administration and clear up the mess are now delivering a sustainable increase in housing and providing real help to hard-working people.
"With over 10,000 reservations in four months, it's clear that the Help to Buy: Equity Loan is working well. By dealing with the big challenges, we are helping thousands of young people and families get on and move up the housing ladder, and Britain is building again." easyroommate
UK housing market revival continues easyroommate despite monthly price dip Rightmove This article was published on the Guardian website at 04.04 EDT on Monday 19 August 2013 . It was last modified at 04.12 EDT on Monday 19 August 2013 .
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