House asking prices reach new high.

House sellers’ asking prices have soared to a new high, in further signs of confidence returning to the market, a property website has reported.

A 2.1% month-on-month rise pushed average prices to £249,841 this month, with new record prices set in London, the South East and East Anglia, according to Rightmove.

This has been the strongest start to the year since 2004 in terms of asking prices, with average prices rising by 9.1% or more than £20,000 in 2013 so far, the website said.

London asking prices surged past the half a million pound milestone for the first time this month, standing at £509,870 typically.

As well as being more than double the national average, asking prices in London were 8.6% higher than a year ago.

Press Association

uk.news.yahoo.com

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Mortgage rates at lowest ever

There has never been a better time to take out a mortgage if you look at headline interest rates, but that’s not all there is to it.

Mortgage lenders appear to be giving with one hand while taking with the other, as they drop rates to all time lows, but ramp up deal fees to the highest level ever.

In just the first few months of this year alone, the average mortgage fee has jumped by £100 to a record high of £1,522, according to analysis by Moneyfacts.co.uk.

At the same time, eye-catching headline rates have plummeted. The average two-year fixed-rate mortgage for homeowners with a 40% deposit is now at 3.5%, dropping from 3.95% at the start of the year.

http://uk.finance.yahoo.com

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