The price of houses in the U.K. hit a record high in July, according to online real estate portal Rightmove, which doubled its forecast for 2013 prices and now expects them to rise by 4 percent, up from a previous estimate of 2 percent.
The average property asking price is now at £253,658 ($383,171), Rightmove said on Monday, up 0.3 percent since June and 4.8 percent higher than at the same time last year. In cash value prices have risen £11,561 in a year.
This marks a seventh consecutive monthly rise in the price of property coming to market, and the second successive national record, it said. Prices in the capital still show the biggest increase with London prices gaining 12 percent since July 2012.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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