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Demand for desirable properties increases in England and Wales

Rightmove Plc, the largest Internet property company, has today confirmed that the average asking price for desirable properties in England and Wales increased by 2.6% in March. The average price now stands at around £235,500 which is a significant increase on the start of the year. It was interesting to see prices in London increase by just 1% in March indicating that the rest of the UK is beginning to catch up on the initial burst of interest seen in the London market.

However, Rightmove believes that while UK properties will continue to increase in value in the short term many of the more popular areas may well see a fall in the latter part of 2010. The 2.6% increase in March is a significant increase on the 0.1% rise seen in February and comes just in time for Gordon Brown to use this in his armoury of more favourable comments about his handling of the economy. Whether it will be enough to see voters rush to the polls and vote him back into power remains to be seen.

The UK property market has been very difficult to predict to say the least and while many people are still concerned about the supply of desirable properties in the marketplace there is no doubt that prices are firming up.

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