Yahoo Finance Home Sellers 'Getting 96% Of Asking Price'
Homeowners in Britain are now able to sell their properties on average at more than 96% of the asking price, according to a new survey.
Hometrack said the rate is even better in some areas, and has now reached a decade-long high in London.
It said sellers in London were obtaining 99.3% of the request price, while the lowest level is typically 93%.
The property analysts said throughout England and Wales, houses remain on the market for less than two months before a sale is agreed - the lowest level since 2007.
In London the time on the open market is on average just 18 days.
The survey was released just hours before the Bank of England (BoE (Shenzhen: 000725.SZ - news) ) said the level of mortgage lending in the UK has fallen for the first time in a year.
The BoE said 70,309 loans were taken out in February, down 9% on January's figure.
Hometrack said March house prices climbed 0.6%, down fractionally on February's level of 0.7%.
Prices were up 0.2% in Yorkshire, Humberside and the North West, and up 0.3% in the North East and West Midlands it said.
Prices climbed by 0.4% in the East Midlands, 0.6% in Wales, by 0.7% in the South East (HKSE: 0726.HK - news) and London and by 0.8% in the South West and East Anglia.
Meanwhile, estate agents Knight Frank said London prices climbed 0.8% in March.
Hometrack research director Richard Donnell said: "The real driver of higher house prices is record low mortgage rates and strong demand from first-time buyers and investors who have no property to sell, which is compounding scarcity.
"With average mortgage rates currently at 3% or lower, compared to over 5% before the downturn, households have seen a significant boost to buying power."
New rules are due in April to ensure lenders are satisfied variable rate mortgagees are able to meet increased repayment rates when interest rates climb again.
It said cash buyers and investors make up 40% of the market and will not be affected.
Mr Donnell added: "The gap (NYSE: GPS - news) between supply and demand has been extended for the last five months and points to further price rises in the months ahead."
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