Post by Bob on Aug 15, 2011 11:05:16 GMT 1
Sales have been held back by the reality gap in the market, with asking prices rising for most of this year while selling prices have been flat.
However, Rightmove says asking prices dropped by 2.1% this month after a 1.6% fall in July.
The average asking price of £231,543 is now 14% higher than the average £203,528 selling price.
The indication is that sellers are putting houses on the market at unrealistically high prices. Some will be pitching the price high expecting to be negotiated down a bit
What this data does show though is do not pay the asking price you should be looking to buy at 5% to 10% below the asking price
However, Rightmove says asking prices dropped by 2.1% this month after a 1.6% fall in July.
The average asking price of £231,543 is now 14% higher than the average £203,528 selling price.
The indication is that sellers are putting houses on the market at unrealistically high prices. Some will be pitching the price high expecting to be negotiated down a bit
What this data does show though is do not pay the asking price you should be looking to buy at 5% to 10% below the asking price