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Article:           “Strongest August market since credit crunch as sellers stay away”

Published:       Monday, August 17th 2015

Source:           RIGHTMOVE

 

Seasonal August price fall more muted than usual, with price of property coming to market down by just 0.8% (-£2,258) compared to post-credit-crunch average August fall of 1.5%

Shortage of new sellers (down 8% on same period in 2014) and active buyers help to minimise usual summer holiday price falls, and result in least generous August price discount from sellers since 2007

Rightmove research establishes stay-away sellers’ top three reasons for not yet putting their move into motion:

1: They cannot find anywhere they want to buy

2: The costs of moving

3: They cannot find a property they can afford

The strongest August price performance since 2007 demonstrates the continuing supply/demand imbalance in the property market. The price of property coming to market is down by just 0.8%, bucking the eight-year post-credit-crunch trend of larger summer holiday price decreases, with the average August price change between 2008 and 2014 being a fall of 1.5%.

Miles Shipside, Rightmove director and housing market analyst comments:

“While new seller asking prices have been muted by the traditional summer holiday property slowdown, the underlying shortage of property coming to market compared to buyer demand has helped to deliver the strongest August price performance since before the credit crunch. Buyers can normally pick up some bargains in August as sellers who are marketing their homes when they should be holidaying often have a pressing need to sell and mark their prices down pretty aggressively. At 0.8% down on the previous month, this is the least generous that sellers have had to be for eight years and a clear sign of upwards price pressure in the pipeline.”

Full story here:

http://www.rightmove.co.uk/news/articles/property-news/strongest-august-market-since-credit-crunch-as-sellers-stay-away


082015-RM-HPI

Dear investor,

 

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