UK house prices jumped by 1.2% during the first week of January as confident new sellers hiked their asking prices, research showed today.

British home sellers have slashed their asking prices by more than £4,000 (€5,000) during the past month as the number of properties on the market hits a new high, figures showed today.

House prices in the UK have rebounded by a strong 2.7% during September, more than wiping out the previous month's fall, figures showed today.

The average asking price for a house in England and Wales reached £224,802 (€334,00) in February but a fall in the annual growth rate suggests a cooling market, figures today indicated.

BUYERS continued to have the upperhand in Britain’s property market in August as homeowners further lowered their asking prices to achieve a sale, and agents’ books remained full, a survey showed yesterday.