Rightmove have announced a drop in asking prices, following an inexplicable rise in asking prices in previous months and upon which Rightmove themselves were quoted as a ‘romp away from reality’.
Year on year, the average price of a property on their site has dropped by 1.6% to £236,597.
It appears that with unsold stock amongst estate agents at its highest level EVER at 78 per branch, reality is beginning to dawn on sellers and valuers alike. At last…
70% of all homes marketed by agents across the UK in 2011 are yet to find a buyer.
Emoov’s advice… Price realistically (and not as the most expensive home of its type nearby) and you will receive interest. Price too optimistically and the odds will be heavily stacked against you. However, properties ARE selling if you use a decent agent with good advertising exposure and price right.