Sellers must get the price right
RIGHTMOVE is forecasting further price falls and no rise in transaction levels for next year,
The website reported that asking prices of properties new to the market have dropped three per cent or an average of nearly £7,000. A spokesman says: “We cannot foresee a set of circumstances that would promote an increase in transaction numbers in 2011 beyond the £550,000 to £650,000 range the market is currently operating in.”
It forecast that “it could take as long as 2015 before transaction levels become “relatively meaningful”.
Commercial director Miles Shipside says: “Sellers are going to have to price more competitively in 2011.”