Property market 'could be paralysed' this year - Simply Business news
The property market could be paralysed this year, because of a mismatch of buyers’ and sellers’ demands.
This is according to property listings website Rightmove, which says that buyers are unwilling to reduce their prices to meet sellers’ expectations.
According to figures published by Rightmove, the asking price of properties recently placed on the market rose in January to £230,000.
This is despite the fact that, according to the Land Registry, the average selling price remains at £165,000.
While this discrepancy is likely to be bad news for first time buyers, it could be beneficial for landlords. Many of those who wish to buy may instead be forced into renting, helping to increase demand for rental properties.
Miles Shipside, a spokesman for Rightmove, said a large inheritance might be the only way to get on the property ladder. He said: “Mr Average will be left out in the cold in the buying and selling game unless the beneficiary of a hereditary hand-out.”
Oxford property to rent advertised on rightmove & our own website www.oxfordhomesdirect.co.uk
Oxford Homes Direct are estate agents in Oxford. Letting agents,Oxford. House to rent Oxford. Property for sale Oxford. Flats in Oxford for rent. House for sale Oxford. Apartments for rent Oxford. Find houses Oxford. Rooms to rent Oxford. Homes direct in Oxford. Make the right move & find Oxford apartments, estate agents Oxford. www.oxfordhomesdirect.co.uk Oxford estate agents & Oxford letting agent. Rightmove, Oxford. Primelocation, Oxford. Rightmove, Oxford
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