Rise in ask­ing price ‘folly at this time’

Yorkshire Post - Property - - PROPERTY -

ASK­ING prices for homes in Eng­land and Wales have risen 0.5 per cent since the start of the year and are now up 1.6 per cent on a year ago.

A re­port by prop­erty search en­gine Home said that it was hard to jus­tify such op­ti­mism over prices in these dif­fi­cult eco­nomic times.

It adds: “Over-pric­ing in the cur­rent eco­nomic cli­mate is sim­ply folly. False op­ti­mism usu­ally leads to dis­ap­pointed sellers, but worse still, it could lead to a home buy­ers’ strike and con­se­quently rapidly fall­ing prices.

The site re­ported that new list­ings were 12 per cent up on a year ago and that the Scot­tish hous­ing mar­ket has been flooded with a 48 per cent rise in new list­ings.

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