Rightmove detects a springtime bounce

According to Rightmove, sellers are holding out; asking prices are increasing. Here are the bullet points from their press release:

• New sellers raise average asking prices by 1.8% (£3,996), the largest rise for 14 months.

• 3rd consecutive monthly increase may be more than a seasonal bounce, though many new sellers are still starting too high, with circa 80,000 current sellers lowering asking prices by 2% or more each month.

• 22,000 new sellers per week tempted to market, up 13% on previous month — a signal of growing confidence that it’s a good time to trade up and there are deals to be done.

• Any early signs of recovery must be put into the context of mortgage approvals running at a mere third of recent levels

Asking prices are not sales prices.