Asking prices tumble |
18 2008 |
| Average asking prices have fallen 7.1 per cent in the past 12 months, it has been discovered, with the most recent monthly fall also particularly acute. Recent research from Rightmove suggested that the average asking price in November was £222,979. This still hints at over-optimistic sellers, however, as the October Halifax house price index pegged the average house price at just £168,176. Miles Shipside, commercial director at Rightmove, agreed that sellers will need to reassess their asking prices if they hope to make a quick sale. "Some sellers could avoid months of disillusionment and despair if they started marketing at an asking price a lot closer to where the evidence indicates they are likely to end up." With such confusion over the marketplace and with the new house price averages still out of reach for many first-time buyers it is unsurprising to discover the popularity of renting is rising.  |
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