Lowest housing stock of century for sellers
Lowest housing stock of century for sellers
Monday 18th January 2010
The UK is experiencing the lowest stock in the housing market this century, "creating a window of opportunity for sellers", according to analysts.Rightmove has announced in its monthly house price index (hpi) today, showing that 2009 ended with prices 4.1 per cent higher than a year ago, and that early signs show a "buoyant" start to 2010.
The first week of January saw a rise of 1.2 per cent in asking prices, reversing the previous week's fall of 0.9 per cent. Forecasters at Rightmove said they expected zero per cent price change in 2010, with "sellers advised to take advantage of expected price rises before post-election dip".
Miles Shipside, commercial director of Rightmove: "This is the busiest ever start to a new year on Rightmove. As ever, this time of year sees potential buyers starting to search for their dream home.
"With home-movers setting new search records on Rightmove and a lack of property for sale, the decision of post New Year sellers to ask for a higher price could be a shrewd move. In spite of problems brewing for later in the year, there are definitely some of the ingredients for a buoyant spring, and a window of opportunity that sellers may wish to take advantage of."
The average asking price for a property is now £222,261 according to Rightmove, compared to £221,463 in December.
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