Home Sellers Increase Asking Price Despite Falling House Price Indexes
According to Rightmove(Uk’s biggest property website) – Home sellers have increase their asking price by 3.1%, or just over £7,000, to £236,849 the most since February.The report contrasts with data from Halifax on Oct. 6 showing U.K. house prices plunged in September by the most since at least 1983.
Sellers are still optimist despite the fact that many house price indexes have reported price falls in recent weeks.But estate agents are also reporting that buyer activity has failed to pick up significantly following the summer break, meaning it is still a buyers’ market.
The “fundamentals remain unsupportive” for the housing market, Ernst & Young said in a report published today. It expects prices to decline into 2011 and said the recovery “will be slow.”
http://www.bloomberg.com/news/2010-10-17/london-home-sellers-raise-prices-by-5-as-housing-weathers-budget-squeeze.html