See below part of the overvew for the latest House Prices from Rightmove.
The full Report and Prices Index can be checked here:
- Market fundamentals remain poor as property per branch rises from 69 in October last year to 78 now and mortgage availability continues to deteriorate
- However, 105,769 new October sellers asked £7,082 more for their homes than last month’s sellers
- Why would new sellers test the market at asking prices 3.1% higher than a month ago?… – Bullish pricing is a normal characteristic of the autumn selling season with average asking prices increasing in every October for the past decade
– Vendors struggle to react to the increasing stock as most are unwilling or unable to adjust to new market conditions
– Post-HIP speculative sellers can now test the market at minimal cost
- Disappointment is the likely outcome for many sellers as evidence shows high launch price damages chances of securing a later sale
Look forward to the next Right Move House Prices Report on November 16.