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Asking prices for UK homes show record rise, as demand exceeds supply

Average advertised cost has risen by £40,000 since pandemic, compared with £9,000 in previous two years

Asking prices for homes coming on to the market in Britain rose by a record 2.3% in February, according to the property website Rightmove.

The listing site said it was the biggest monthly increase in the 20 years it has kept records and meant the average advertised cost of a home was up by £7,785, to £348,804. Over the past 12 months, asking prices have gone up by 9.5%.

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