Stand-off on price paral­y­ses mar­ket

Yorkshire Post - Property - - PROPERTY -

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.”

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