House asking prices reach record highs in Yorkshire

Estate agents signs Credit: PA Images

House asking prices have reached new record highs in Yorkshire according to property website Rightmove.

Sales from the August 5, 2020 to August 12, 2020 were up by 60% compared to last year. It's thought that more time at home and most holidays being cancelled has led people to focus on property instead.

Asking prices reached record highs in seven nations and regions - Yorkshire and the Humber, North West England, the East Midlands, Scotland, Wales, the East of England, and the West Midlands.

The website said asking prices usually fall at this time of year, as many people are normally away on holiday.

Rightmove director said:

We associate this time of year with diving into the pool rather than the property market, and of sand and sun rather than bricks and mortar, but buyers have had a record £37 billion monthly spending spree.More property is coming to market than a year ago in all regions, and at a national level the new supply and heightened demand seem relatively balanced.

Miles Shipside, Rightmove director

The website said sales worth a record sum of more than £37 billion were agreed in July - marking the highest monthly total since its records started over 10 years ago.