Homes stuck on stagnant market
SEVENTY per cent of properties put on the market so far this year are still for sale, according to Rightmove.
The number of unsold homes per estate agency branch stands at 78. For the first time this year, asking prices have been dropped by sellers new to the market.
The number of new sellers also fell, down by 12 per cent on this time a year ago, with many owners unable to raise the deposit to fund their next move.
Rightmove director Miles Shipside says: “Many equity-poor aspiring sellers will be trapped in their current homes. Those that are equity-rich have an opportunity to increase their chances of success by launching to the market at a price below their over-priced and stale competition.”