House price gains made in the first half of 2010 are set to be wiped out, due to aggressive pricing and a flood of new sellers coming to market, Rightmove warns.
It reveals new-to-market sellers reduced their asking prices for the first time this year by 0.6% in July, with the national average asking price now at £236,332. With the first month-on-month fall in asking prices, Rightmove predicts further pressure on new sellers’ asking prices will see the 7% increase for the first six months of 2010 disappear. National averages will also fall by a similar amount. Miles Shipside, commercial director of Rightmove, says: “More aggressive pricing is now the order of the day, which means that conditions are ripe for a strong buyers’ market in the seco...
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