Key Points from this month’s report
· Increased seller numbers not matched by increase in purchasers’ ability to buy, resulting in biggest monthly jump in agents’ unsold stock since May 2007 – up from 70 to 74 properties per branch;
· As property supply is increasingly outstripping demand, this month’s jump in new sellers’ average asking prices of 1.7% (£4,032) looks misplaced;
· London remains the exception as buyer demand pushes asking prices to a new record of £431,013;
· With base rate rises looming, sellers who are keen to sell in the spring window should adopt ‘serious seller’ tactics;
· Will Britain’s bank holiday bonanza hinder the housing market? Estate agents experience slower activity on bank holidays, of which there are five in the next six weeks including the Royal Wedding.
Read the full report here: http://www.rightmove.co.uk/news/files/2011/04/april-2011.pdf