London house prices rise again, as demand outstrips supply

Most properties are also selling for the full asking price in London Credit: Press Association

There was another jump in house prices month-on-month in November as surging demand from buyers outstrips supply.

The greater availability of mortgages is helping fuel demand from property buyers, but a lack of houses means prices are being pushed up.

These are the main findings from the Hometrack report:

PERCENTAGE OF ASKING PRICES ACHIEVED:

  • London: 97.7%

  • South East: 95.9%

AVERAGE TIME TAKEN TO SELL

  • London: 3.6 weeks

  • South East: 5 weeks

CHANGE IN HOUSE PRICES

  • London: +0.7%

  • South East: +0.7%