New sellers demand higher house prices

House prices booked a monthly gain of 1.3 per cent over the last month, while new sellers's asking prices climbed to their highest level in almost three years, according the property website Rightmove.

New sellers' asking prices, though lower in real terms owing to inflation, are now only 1.5 per cent below the May 2008 peak of £242,500. The report, based on estate agent listings between 10 April and 7 May, also showed that the average property asking price now stands at £238,874.