Undeterred by reports of falling house prices, confident sellers have pushed their asking prices up this month to the highest level for nearly three years.
Rightmove reports that asking prices for ‘new-to-market’ properties now average £238,874. The last time they were higher was in June 2008.
Asking prices are now only marginally (1.5% or £3,626) below their all-time high recorded at their peak in May 2008.
Asking prices for new-to-market property rose 1.3% in April, which itself was 1.7% ahead of March this year.
However, the blunt truth is that more properties are failing to sell.
According to Rightmove, average unsold properties per estate agents office rose from 74 to 76 in the last month. It is the largest number of properties for sale per branch in May that Rightmove has yet recorded. The website notes that there are few ‘genuinely proceedable’ buyers.
While there has also been a 30% reduction in new sellers to the market, Rightmove believes there has been an even larger fall in new buyers.
Director Miles Shipside said: “The increase in agents’ property stock levels, combined with a reduction in the number of properties coming to market, suggests that the number of buyers has fallen even faster than the number of sellers, and transaction volumes will therefore remain low as we move into the traditional summer slowdown.
Mark Green from imoveCornwall , the UK
Rightmove reports that asking prices for ‘new-to-market’ properties now average £238,874. The last time they were higher was in June 2008.
Asking prices are now only marginally (1.5% or £3,626) below their all-time high recorded at their peak in May 2008.
Asking prices for new-to-market property rose 1.3% in April, which itself was 1.7% ahead of March this year.
However, the blunt truth is that more properties are failing to sell.
According to Rightmove, average unsold properties per estate agents office rose from 74 to 76 in the last month. It is the largest number of properties for sale per branch in May that Rightmove has yet recorded. The website notes that there are few ‘genuinely proceedable’ buyers.
While there has also been a 30% reduction in new sellers to the market, Rightmove believes there has been an even larger fall in new buyers.
Director Miles Shipside said: “The increase in agents’ property stock levels, combined with a reduction in the number of properties coming to market, suggests that the number of buyers has fallen even faster than the number of sellers, and transaction volumes will therefore remain low as we move into the traditional summer slowdown.
Mark Green from imove
No comments:
Post a Comment