Asking for it

Asking prices for homes have risen to their highest level in three years according to a new report, with some owners asking 'silly money' for their slice of bricks and mortar.

The average asking price of homes rose 1.3% in May, the highest monthly level since June 2008 according to property website Rightmove.

The firm's director Miles Shipside told the Press Association: 'The Bank of England's decision to hold interest rates at unprecedented low levels has disrupted the traditional economic formula of an excess of supply over demand leading to lower prices.

'It has thrown some sellers a lifeline in their quest to hold onto the gains they made during the boom era, though the market has failed to build up a head of steam due to continuing red signals from mortgage lenders, and the normal spring momentum being diverted into a siding by the warm weather and the royal wedding.'

We knew Wills and Kate had something to do with it!

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