Demand leads supply as sellers withdraw

The onset of the Autumn moving season sees new sellers asking an average of 0.6% more for their properties, according to the latest Rightmove House Price Index for September 2009. Rightmove has also recorded the lowest average stock levels per branch for 18 months, with 29% more properties coming off the market than coming to the market.

The lack of choice in popular areas and high deposit requirements are combining to deter existing home owners from taking advantage of more buoyant market conditions to trade up.

Miles Shipside, commercial director of Rightmove, comments: “There’s an Autumn window for new sellers where a sensible asking price combined with this better market could get you traded up into your next home before Christmas. Some would-be sellers may be concerned by the limited choice of suitable property currently available, and will have to decide whether to take a chance on finding something fresh to the market after they have found a buyer. This increases the risk and stress of moving, but with choice getting increasingly limited in popular areas they need to have a buyer lined up to improve their chances of securing their next home”.

Source: UK Property Shop

Tags: Property news

This entry was posted on Tuesday, September 29th, 2009 at 10:02 and is filed under Property news.