Following two consecutive monthly falls in the price of property coming to market, October saw a rebound of +2.8% (+£6,923). The biggest turnaround was in London with an unsustainable +10.2% (+£50,484) jump in new sellers’ average asking prices this month.The summer slowdown was most pronounced in the capital and October sees a return to a growth trend which started in January this year. Such a significant monthly increase in the capital at this time of year is not without precedent. In October 2009, average asking prices in London rose by +6.5% following a similarly low level of activity from sellers over the summer months creating some volatility. This month’s strong recovery means prices are now nearly £30,000 up on July’s all-time high.
