Tuesday 22 February 2011

BBC News - UK housing market faces paralysis, warns Rightmove

BBC News - UK housing market faces paralysis, warns Rightmove

Most of the UK property market faces "paralysis" this year, says the estate agency website Rightmove.

The company claims to advertise 90% of all properties for sale on behalf of local estate agents.

It says many sellers are refusing to drop their prices, with the price of newly-advertised properties in fact rising by 3% in January to £230,000.

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