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Estate agents facing most price sensitive housing market ‘in many years’

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first_imgEstate agents are facing one of the most price sensitive housing markets seen in many years, Rightmove has reported.Its housing market analyst Miles Shipside makes the claim within the company’s latest house price index, blaming the trend on buyers “understandably looking for value or for homes with extra quality and appeal that suit their needs,” he says.Rightmove also says PM Theresa May’s announcement last week that Brexit will be delayed until October is good news for the nation’s property market, which is currently in the middle of its traditionally busiest period.“No doubt there are still a lot of twists and turns to come, but this extension could give hesitating home movers encouragement that there is now a window of relative certainty in uncertain times,” says Shipside (left).“We are not anticipating an activity surge, but maybe a wave of relief that releases some pent-up demand to take advantage of static property prices and cheap fixed-rate mortgages.”Housing marketDemand is already outstripping supply. Asking prices increased by 1.1% during April, the biggest month-on-month increase for over a year.Nick Leeming, Chairman of Jackson-Stops, says: “With demand currently far outweighing supply, buyers, particularly those in the family homes market, have become frustrated at the lack of new homes coming to market.“This greater competition has resulted in upward pressure on prices, so it is perhaps not surprising to see today’s data showing a greater monthly price increase.”The average asking price for a home is now £305,449 and £190,920 for a first-time buyer property.Nick Leeming Rightmove Miles Shipside Brexit April 15, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » Estate agents facing most price sensitive housing market ‘in many years’ previous nextHousing MarketEstate agents facing most price sensitive housing market ‘in many years’Claim is made by Rightmove which also says Brexit extension could see a short-term ‘mini surge’ in sales market.Nigel Lewis15th April 201901,199 Viewslast_img


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