More buyers are looking to upgrade their living spaces across the U.K., which has driven up asking prices of multiple-bedroom homes in the period between Aug. 20 to Sept. 20, congesting the sales progress, according to Rightmove PLC. The U.K property website said Monday that it estimates there are nearly 40% more sales currently going through the buying and selling process compared with this time in the prior year. Sales have been the strongest in the "top of the ladder" sector, which includes four bedroom detached homes and larger, according to Rightmove. In this category, sales agreed more than doubled in August compared with the same period last year. According to Rightmove's analysis, the increase in home sales have led to agents reporting that they've seen delays and longer completion times than normal.

Source: Wall Street Journal September 21, 2020 05:15 UTC