London asking prices post first annual increase in 2 years

Asking prices for London homes showed their first annual increase since 2017 this month, as the Brexit-battered market started to show signs of life. New seller prices were up 1.3 per cent from a year earlier, property website Rightmove said in a report published on Monday. They eased just 0.1 per cent on the month, the smallest decline for any August since 2006. Rightmove said a shortage of supply is helping to underpin prices, with the number of new sellers down almost 11 per cent on the year. Meanwhile, sales agreements jumped in what is normally a slow month, suggesting buyers and sellers alike are now taking the plunge after years of waiting for Brexit to be resolved.