Sellers drop prices but more needed
AUGUST heralded a 1.8 per cent drop in new sellers’ asking prices, according to Rightmove.
It is 2013’s first recorded fall but it is more modest than usual for this time of year, which is indicative of market recovery.
The property portal says that demand from home-movers is already returning with the number of email leads sent from Rightmove to agents and developers up 17 per cent yearto-date
Property transactions are also up five per cent while the supply of property coming to market lags behind, increasing by just 0.2 per cent so far this year.
To avoid a return to excessive house price inflation, Rightmove say we need more sellers to come to the market.