Overly optimistic sellers raise house prices by 1.7% but they¿re still on the market | Mail Online

Overly optimistic sellers raise house prices by 1.7% but they¿re still on the market | Mail Online

House sellers raised their asking prices by 1.7 per cent last month, but buyers are still thin on the ground, leading to a glut of unsold properties.

It was the fourth consecutive month in which new sellers have increased asking prices, according to property website Rightmove. The increase means the average property on the market in England and Wales has a price tag of £235,822 - six per cent or £13,400 higher than at the end of last year.

But the leap in prices in March is due to misplaced optimism, as homes are not selling.