Q1 increase in asking prices

Asking prices have risen by £3,104 in the past three months to March, according to the latest House Price, Affordability and Rental Index from FindaProperty.com.

It said that asking prices have increased 1.8% since the start of the year, bringing the average asking price of a property in the UK to £221,387, up from £217,483 at the end of 2011.

Eight of the 11 UK regions recorded an asking price rise during Q1 2012, with London increasing the most, by 5.4%.

Samantha Baden, property analyst at FindaProperty.com, said: “We always expect prices to tail off at the end of the year as the market quietens down, but a healthy recovery during Q1 of the following year shouldn’t be taken for granted.

“Given the current economic climate, asking price rises could be interpreted as part of a gradual return of confidence to our fragile property market. However, for many first-time buyers and would-be home movers it’s the affordability issue which remains key as they decide their next property move.”