SALES NEWS: Asking prices up but sellers warned to manage expectations
Average asking prices for homes on sale in the south west and across the rest of the UK have seen their largest September increase for 13 years according to Rightmove.
But although this month’s 0.9 per cent asking price rise is unusual at this time of year, when asking prices are normally more restrained following the summer, Rightmove is warning sellers not to be unrealistic in their expectations.
It says the asking prices of smaller homes – one and two bedroom apartments, for example – have actually dipped because buyers have reached the limit of their affordability.
It warns this affordability limit may also affect larger homes if they are over-priced.
However, it says there remains a shortage of supply in most regions – including the south west – compared to the number of potential buyers registered with agents. So Rightmove says this is a good opportunity for a quick sale for those owners considering moving as long as the price is right that is.