Could you save money by selling your home online?
Selling your home can be a very long winded, stressful, and expensive affair, and never more so than these days when the bottom has fallen out of the property market and finances are tighter than ever. Those looking to sell their homes at present face a number of hurdles. First is the fact that estate agents are reporting very poor sales figures, with the number of properties remaining unsold on estate agents’ books at the highest level of decades. Read more
Tags: decades, house prices, Rightmove, current state, high street offices, average homeowner, present face
House prices rise by 3.2%, says financial experts
February 19, 2008 by admin
Filed under News, News-Mortgages
The average asking price for property has risen by 3.2 per cent as estate agents test the market, claim property experts. 
According to property website Rightmove, competition between estate agents is expected to be fiercer than last year with only 132,000 properties on the market compared with 144,000 during this time in 2007.
The firm adds that prices have been virtually static for much of the past six months, and this is a trend expected to continue through 2008.
Miles Shipside, commercial director of Rightmove, said: “It’s not the start of another price boom, but the interest rate cuts have no doubt given some sellers headier hopes.”
He added that these are likely to prove to be unwarranted given the high level of existing property that is already on the market and the amount of time that it has been there.
A slower market was cited as one reason for this drop in new listings, but also the introduction in December of home information packs (Hips) which might have put some speculative sellers off say Rightmove.
Property shortage fuels price rises
January 22, 2007 by admin
Filed under News, News-Mortgages
A new report says that house prices are rising due to a lack of property for sale on the market.
The Rightmove Price Index has found that prices in Britain have risen from an average of £221,751 in December, to £222,859 in January.
That means annual house price inflation is up to 13.5 per cent and the rise is being put down to a lack of housing.
The index says that housing stock is 18 per cent lower than it was at the same time last year, with Rightmove citing this as a major factor in the price rises.
“Where there are shortages of property, prices will keep increasing and properties will keep selling, in spite of the latest interest rate rise,” said Miles Shipside, Rightmove commercial director.
“The reason house prices are defying the gravity of a six-year high in interest rates is because the number of new households is growing by 50,000 a year, more than the supply of new build.”
The Bank of England has recently raised interest rates in a bid to bring the housing market under control, but Mr Shipside pointed out that this may be a risky strategy.
“Slowing property prices by raising interest rates several times in quick succession is not only incredibly painful for existing and potential homeowners’ mortgage payments, it’s a high-risk strategy for the economy given the possibility of rates going too high,” he said.
Rightmove has revealed that it expects to see property prices rise by six per cent this year.
