‘Bullish’ sellers drive house asking prices up
Posted on 18 June 2007
The asking price for homes in the UK is at a record high, according to a report published today.
Property website Rightmove’s June house price index shows an average asking price of £239,317, up 0.8% from May’s £237,361.
The report’s findings are at odds with other indications that suggest the market is beginning to cool. It records that for the second month running around 200,000 properties have come onto the market, a surge that Rightmove attributes to buyers rushing to beat the ‘false’ HIP deadline.
Sellers are “chancing their arm at some fairly bullish prices considering there is now a lot of property up for sale,” explained Miles Shipside, Rightmove’s commercial director. “Their main motivation will have been to save some money avoiding a HIP, rather than being realistic on price because they had seen a property they desperately wanted to buy.”
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