Rise in prices will hit sell­ing vol­umes

Yorkshire Post - Property - - PROPERTY -

THIS month’s new sell­ers im­i­tated last year’s by in­creas­ing their ask­ing prices by 3.1 per cent to an av­er­age of £230,030, ac­cord­ing to Right­move.

The com­pany says that with len­ders stat­ing that they ex­pect mort­gage lend­ing to re­main static at about 2010 lev­els through­out 2011, and new seller num­bers prac­ti­cally un­changed year-onyear, what might have been seen as a pass­ing phase of low trans­ac­tion lev­els in the hous­ing mar­ket now looks set to be the norm for the fore­see­able fu­ture.

Miles Ship­side, di­rec­tor of Right­move, says hopes that trans­ac­tion vol­umes may re­turn to his­toric norms have been dashed and adds that len­ders are favour­ing af­flu­ent buy­ers.

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