The asking price for houses moved up last month but property is taking far longer to sell, according to new figures out today. The Times
Homes are lingering on the market for 93 days, 15 days longer than last year, and agents have an average of 64 properties on their books, up from 54 last February, according to Rightmove, the property website.
The company's latest survey for the month to February 9 shows that asking prices rose 3.2% to £237,856. The rise, averaging £7,428, pushed the annual rate of growth up to 5.8%, from 3.4% in January.
However, Miles Shipside, commercial director of Rightmove, said: 'It's not the start of another price boom, but the interest rate cuts have no doubt given some sellers headier hopes.'