The stock of unsold homes is rising steadily as the mood in the housing market darkens, but the array of properties is failing to tempt buyers back as homeowners demand ever-higher prices, according to Rightmove, the property web site. The Times, The Guardian
In its monthly survey of house prices, Rightmove said that the number of unsold properties was at its highest level for this time of year since it began to publish its survey in 2002. Each estate agent had an average of 67 homes on its books, up from 56 a month earlier, it said.
The website's figures also showed that asking prices had risen 0.8 % to £239,655 as homeowners try to push up prices. However, it estimates that actual selling prices have fallen 10% since their peak last year.
Miles Shipside, the commercial director of Rightmove, said: 'In the current market, sellers should price below their competition to achieve more interest now and avoid a larger price-drop later in the year.'