UK Housing Market Sellers Forced to Cut Asking Prices, Still 16% Over Valued :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

UK Housing Market Sellers Forced to Cut Asking Prices, Still 16% Over Valued :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

Rightmove, Britain's largest online estate agency is reporting that UK home sellers have cut their asking prices for the first time this year, by dropping them by 1.6% this month. The BBC further estimated that this still leaves national seller asking prices over valued by 16% at £236,597 against the average actual sale price of £203,528 on the DCLG valuations measure (implies 40%! over valuation on other house price indices such as the Halifax).