Quick house sales 'still possible'

Posted: 03 Nov 2008 09:14:26 GMT

Competitively priced properties can still be sold quickly, a housing market expert has claimed.

According to Selwyn Lim, director of online property market information service Mouseprice, it is still "absolutely" possible to make a speedy sale.

He suggested that in purely rational terms, house prices should have little impact on sales levels because most people selling will also be buying another property afterwards.

"If your property falls in price then chances are that the property you are buying has falling in price as well," Mr Lim explained.

However, it is clear that pricing does have a big impact because of the "emotional attachment" that people feel to their homes, he added.

"The length of time on the market is really dictated by how aggressively the person prices the property."

The most recent Rightmove House Price index indicated that the average asking price for a property stood at £229,691 in October 2008 - up one per cent from September, but down nearly five per cent on the same month last year.

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