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Wednesday, 22 June 2011

Prices Expectations Ahead of Reality

According to Rightmove, house sellers' price expectations have 'romped away from reality' and asking prices need to be readjusted downwards.

Asking prices have risen each month so far in 2011, and are now up 8.1% on the year, with the average asking price now £240,394. Rightmove forecasts that asking prices will fall by 7% in the next 6 months as buyers become more realistic, as record selling prices are pegged back by a lack of buyers and unsold stock.
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