Homes selling for closer to asking price

Posted: 16 Jun 2009 09:18:52 GMT

New research has found that the gap between asking house prices and the actual selling fee is narrowing.

Some 60 per cent of the Royal Institution of Chartered Surveyors (Rics) members questioned in the survey agreed with this sentiment.

According to the study, final selling prices are currently 11 per cent lower than the original fee set.

Senior economist at Rics Brigid O'Leary stated: "The improvement in sentiment that has been captured in recent housing market surveys is reflected in a narrowing in the gap between asking and selling prices."

Various surveys over the last few months indicated that the value of housing in the UK has risen.

However, there are contradictions in what the price of a home is - Halifax said that the average value in May was £158,565, while Nationwide Building Society's estimated the average property to be worth around £4,000 less.


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