Asking prices rise 1.2%

Posted: 17 Feb 2009 08:34:53 GMT

Research from property website Rightmove.co.uk found that asking prices rose 1.2 per cent between January and February this year.

The rise in prices comes despite eight in ten homeowners confirming that they believe that it is currently a bad time to sell a property, suggesting the rise in prices may not affect sale prices.

Explaining the results, Miles Shipside, commercial director of Rightmove.co.uk, said: "In spite of 25,000 out of 28,000 potential home-movers in the Rightmove Survey stating it was a bad time to sell, sellers appear to have ignored their fellow home-movers' assessment of market conditions and put prices up.

"Sales are being achieved at around 25 per cent below peak prices, yet new sellers coming to market are starting out asking an average of only ten per cent less."

Despite the recent rise in asking prices, the recession and ongoing insecurities over joblessness will most likely mean that buyers are still hard to motivate, and so prices will not likely raise much before the end of the recession.

Those hoping to buy a home at present could benefit from buying online, as without the need for an expensive estate agent, buyers could benefit from the current low prices.



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