Key points reported by Rightmove in the July House Price Index:
* Asking prices up by over £6,000 in July, the largest monthly increase in five years
* The July increase of 2.9% increases the annual growth rate to 10.6%
* Stronger market in the south as demand continues to beat supply
Miles Shipside, Commercial Director of Rightmove commented: "In addition to growing demand from affluent buyers, there are increasing numbers of households being formed. The lack of supply of suitable property on the market, exacerbated by the shortage of new build, means that buyers are faced with paying record prices. These are now set to defy all expectations for 2006. However, buyers are also being canny by insulating themselves from possible interest rate rises, with over 70% taking out fixed rate loans."
