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Property UK: Asking prices plateau as more homes hit the market for sale

Monday, Jul 16 2018
Property UK: Asking prices plateau as more homes hit the market for sale

The data, released this morning, suggests that a combination of ambitious marketing values, coupled with more sellers listing their properties over the last month, has taken the froth off the top of the market in many areas of the UK.   In fact, such is competition between sellers now in some regions that according to Rightmove, the number of sellers who are reducing their asking price is the highest at this time of year since 2011.

This is due to an 8.6 per cent increase in the numbers of new properties available for sale, however there hasn’t been a corresponding upswing of buyers, meaning that prices have to come down in order to secure a sale. Miles Shipside, Rightmove director commented: “At this time of year many potential sellers are more focused on erecting sun umbrellas as opposed to ‘For Sale’ signs, and would-be buyers are equally distracted by their summer holidays. “So, while an increase in seller numbers is a welcome sign of more liquidity in a generally stock-starved market, it has unfortunately come at a quieter time of year.

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