Stand-off on price paralyses market
HOUSE prices are over-valued, according to around half of those questioned in a survey for Rightmove.
Yet only a quarter of people expected prices to fall.
Rightmove director Miles Shipside says: “There is a growing sense that many homes coming on to the UK housing market are priced too high, and this is borne out by the views expressed in this survey.
“We now have a situation where half of the UK public feel house prices are too high, yet three-quarters of the same public are expecting prices to either stay the same or increase over the next 12 months. This suggests the prospect of a market stand-off and rising unsold stock levels if sellers don’t wise up.”