A look at the Halifax house price index shows that sold prices of residential properties in the UK dropped 15% between the market peak of 2007 and the end of 2010. This though, is contrasted by Rightmove’s asking price figures which show that ‘for sale’ prices have stayed the same. Exactly the same.

This makes no sense and is exactly why the property market has ‘locked up’ with transaction levels at a lowly half of those seen in 2005/2006 and 2007. Sellers are being unrealistic. And estate agents are not telling the truth on their valuation visits (there’s a shock).

Today, Rightmove have revealed that  sellers’ asking prices have increased AGAIN in January so far by 0.3% over and above December’s.

Bonkers…

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