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The average asking price for a home in England and Wales passed 300,000 pounds for the first time in March, property website Rightmove said on Monday, as buyers rushed to beat a property tax rise which comes into force next month. Asking prices for homes in London were 11 percent higher than a year earlier, but prices in the capital were flat compared with February with the biggest month-on-month increases in central, south west and north east England. Demand has grown in recent months as people seeking second homes or properties to rent them out hurry to finish their transactions before a hike in a property tax due to take effect on April 1. Overall, the average asking price in England and Wales rose 7.6 percent year-on-year to 303,190 pounds, an increase of 50 percent in a decade, far out-stripping wage growth and leaving many people unable to afford a home. Rocket Despite government attempts to boost housebuilding, Rightmove said demand was continuing to outstri...

UK house prices continue to rise at a "robust pace", the Halifax has said - a position echoed by the latest figures from a rival lender. The Halifax, part of Lloyds Banking Group, said property values were up 9.7% in February compared with a year ago, but down slightly on January. The Nationwide Building Society said house price growth remained "steady". Demand outstripping the number of homes on the market is pushing up house prices, surveys suggest. Affordability The Halifax said that house prices in the three months to the end of February were up 3% compared with the previous three months. The annual rate of change of 9.7% was unchanged, with the average home valued at £209,495. The Halifax added that property prices were down 1.4% in February compared with January. "Prices continue to rise at a robust pace driven by a significant imbalance between supply and demand. Whilst this position is likely to continue over the coming months, there are some tentat...