STOCKS | UK Asking Prices Rise for First Time Since May

British property sellers raised asking prices for the first time since May, according to data released Monday by UK property website Rightmove. According to Sina Finance, the data showed that asking prices for homes listed for sale rose 0.7% between August 9 and September 12, after falling 2.0% in the previous four weeks. Rightmove said asking prices were down 0.8% from a year earlier, after its August report showed house prices had fallen 1.0% year on year. The number of homes for sale reached a 12-year high, while buyer inquiries fell 9% from a year earlier. Rightmove property expert Colleen Babcock said the above-average rise in September prices after an unusually weak summer was a welcome sign of improving confidence, but should be seen as a modest recovery. The average rate on two-year fixed mortgages rose from 5.09% to 5.29%, and the Iran conflict that is pushing up borrowing costs appears unlikely to end soon.