propertytalk Live! - Property asking prices continue to edge upwards - Rightmove

propertytalk Live! - Property asking prices continue to edge upwards - Rightmove

New sellers have pushed up average asking prices by 0.8% in the continuing absence of mainstream or forced sellers, according to the latest figures from Rightmove.

After a couple of months of uncertainty, estate agents are now reporting that the higher levels of inquiries and viewings experienced in January and February are slowly converting into more concrete offers and agreed sales. Rightmove’s March House Price Index shows average time on the market falling from 98 to 89 days.

In addition, unsold properties per branch increased by an average of just one, indicating that the pace of sales agreed has picked up to nearly cancel out the spring sellers who normally increase agents’ stock levels at this time of year.

Rightmove director Miles Shipside said: "The falling time on the market and stable spring stock levels would normally point to a healthy housing market.

"However, this year’s celebrations will be severely muted by the knots the market has found itself tied up in. This month’s number of sellers, still handcuffed by a lack of equity, has managed to limp just ahead of the number of deposit-shackled
buyers, but the market is still restrained by low transaction volumes and restricted liquidity."