The average selling price for a house is now at £294,542 which is £191 more then last months making the price index at a small 0.1% asking price rise.
Due to affordability constraints, mortgage approvals and general summer slowdown, there is still a drought in property sales.
Rightmove say that they see the biggest demand in excess supply and that the shortage is more keen for smaller homes with 2 bedrooms or less.
The highest number of property enquiries is for houses with 2 bedrooms or less, especially with first time buyers. This type of property ( 2 beds or less) sees 24% more enquiries then any other property type such as larger houses with 3 or 4 bedrooms. Smaller units benefit from demand from not only first-time buyers, but also downsizers and buy-to-let investors.
Rightmove states that visits to its website and enquiries to estate agents are up by 22 in June compared to this time last year, despite the fact that the number of properties coming to market is running at a weekly run-rate 10.6 per cent below the same period in 2014.
Rightmove says there are “signs of buyers hitting their affordability ceilings” thanks in part to a continuing shortfall in the number of new homes being built.
This was found on Estate Agent Today who Open House Estates visit frequently for upcoming news and information on the today's property market.
Open House are one the fastest growing online estate agents in the UK who operate across the country and have franchises up and down the UK. Not only do they have such a huge and fantastic network with local expertise but their fees and rates could save you thousands.
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