South West Property sees a jump in asking prices

This month sees a jump in new seller average asking prices of 3.5% (+£8,310), the biggest increase for eight months, with a regional boost of 4.8% (+£21,834) and a 6.2% increase on last year's prices. This goes a long way towards reversing the Olympic-induced price lull over the summer, which saw asking prices of property coming to market fall by 4.6% (-£11,377) over the three months between June and September. This price rebound indicates the market is not performing as badly as some feared.

However, sellers looking to try for a higher price should note Rightmove research which suggests that only a few segments of the market have a robust statistical case to justify higher property values than seen in the peak years of 2007 and 2008. In addition, fewer than two in five potential buyers state that they would actually arrange to visit a property if they consider it to ‘match their criteria but be over-priced’.

We will update you on the figures for Exeter, which are due to be released later on today.

For further information, visit www.rightmove.co.uk