Lack of House Buyers Forces Slump in Asking Prices
People looking to sell their properties are cutting their asking prices at the fastest rate in 5 years.According to data from Rightmove, asking prices have fallen by 3.2 per cent since November.
This means that the average property has lost £7,590 this month and is valued at £232,396.
The increased cost of mortgages is highlighted by Rightmove as the main reason why there are fewer house hunters, forcing sellers to cut their prices.
Rightmove also blames the introduction of Hips to properties with one or two bedrooms last week for making the situation worse, by adding a glut of supply in the market.
"There is a history in the property market of no sale, no charge. But Hips changed all of that, and this was the last chance to put your house on the market without any cost," Mr Shipside said.
A lack of buyers in the property market has an impact on the price that can be achieved on your property, but also on the length of time it can take to sell your house. If you need to sell your house quickly, Quick Move Now can help. We offer certainty and speed - certainty in that we can give you a guaranteed offer for your property and speed in that we can complete purchases within 7 days.
We are serious about buying property - if you need a buyer for your house, and need one quickly, then call Quick Move Now on 0800 068 3366.
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