Estate Agent Today

We have 56 guests online

Today's Headlines:

House prices fall or rise (take your pick)
4 comments
House prices went up slightly – by 0.4% – in July, the Land Registry has reported. It

Knight Frank stay quiet after conman is jailed
9 comments
A tenant who faked his identity when renting through Knight Frank has been jailed for three

Rich overseas buyers keep prime London market aloft
0 comments
Chinese buyers are expected to replace Russian investors as major players in the prime central London

Moving occasion: today's the day!
0 comments
The most popular moving date is today, September 1, the Post Office has revealed. The two next

Prospective first-time buyers sink to new low
0 comments
The proportion of buyers expecting to buy for the first time in the next 12 months

Housing market 'edging towards double dip' claim
2 comments
Net lending plummeted in July to the second lowest monthly figure since records began in 1993,

Henry Pryor Blog
0 comments
Welcome to a new monthly blog by Henry Pryor, estate agent turned entrepreneur, inventor and expert

Rightmove profits climb 39% as more agents sign up
14 comments
A rise in the number of agents and an overall willingness to pay more to Rightmove

Portal creates new 'check out your competition' stats
1 comments
Property portal Home has created some new statistic pages on its site which we reckon will

Six in ten mortgages are now for house purchase
2 comments
The proportion of mortgages being taken out for purchases, as opposed to remortgages, is at its

News Story

Asking prices continue to rise

Monday 20th April 2009

New properties listed for the first time this month on Rightmove have average asking prices that are 1.8% (£3,996) higher than in March.

It provides the clearest evidence yet of over-valuing in the face of sellers’ misplaced optimism.

It is not only the largest rise for 14 months, but the news comes just one day before the launch of Rightmove’s new weekly property bargain service – which, from tomorrow, will show the price reductions on Rightmove properties which have failed to sell.

Around 80,000 properties listed on Rightmove are having their prices cut by at least 2% each month. Rightmove is hoping that its new bargains listings will help agents convince sellers to accept price cuts.

Today’s Rightmove survey, looking at newly-listed properties, also contrasts with another new survey, from Home, which tracks asking prices of all properties on the market – not just new listings – on all the main portals.

The Home survey is produced in conjunction with Calnea Analytics, the consultancy that produces the Land Registry house price information.

It found that asking prices across England and Wales have fallen this month by 0.4%.

And it found that asking prices of 66,316 homes on the market were cut in March – more than in February. The average cut was £20,592.

The Home survey also found that time on the market has increased dramatically and now stands at 175 days, compared with 80 days last April. However, this finding is in complete contrast to Rightmove’s survey, which says that time on market has actually fallen month on month from 81 to 77 days.

Send to a Friend Today's other headlines

View Comments 5 comments

Report Abuse

Posted By richard on Tuesday 21st April 2009 13:53:35

Get Profile

Drive for show, putt for dough. Instructions are down so what else have the poorer agents got to makret themselves- age old ones- Lower fees, tell vendor the price they want to hear. The only way back is increased volumes of salable stock and sensible peole having been given sound advice by the best agents, so they actually can move a free things up. I know lets do it all "no sale no fee" and keep losing money!!!!

Reply to this comment

Posted By Wooden Top on Monday 20th April 2009 14:04:38

Get Profile

Weeve got no mice either, but were getting alot of Rightmove properties to sell (all overpriced)but now reduced inline with market values. These same agents are now having to over value to replace there dwindling stock .... more nails in a coffin.

Reply to this comment

Posted By Henry Waterman on Monday 20th April 2009 12:41:02

Get Profile

For heavens sake you lot wake up, overvaluing is an excuse for not selling. The reason why sellers are "overvaluing" is simple, many cannot afford to sell for anything less. Thats what we find and react to the sellers request accordingly. There is an obvious "sweetner" %down if needed but not too much and we are selling, not a lot but enough to keep the office cat in food! Meow

Reply to this comment

Posted By Voice of the Industry on Monday 20th April 2009 12:17:57

Get Profile

It provides the clearest evidence yet of over-valuing in the face of sellers’ misplaced optimism .....

Wow Rosalind - you really are our voice !

Can't remember the last positive spin you put on something - please - open your eyes just a little !

Reply to this comment

Posted By Vossy on Monday 20th April 2009 12:15:00

Get Profile

Did anyone else get the email about a negotiator job vacancy? As a Director with Staff I don’t take kindly to attempts to poach my staff, however subtle the method. How would Estate Agent Today like it if I emailed their staff offering similar jobs for rival organisations? We signed up for the property blog and not to have our staff poached…..whoever authorised this email should explain themselves!

Reply to this comment

Post Comments

Please login to post comments:

Post Comments without login

DISCLAIMER: The views contained in these user comments are not endorsed by Estate Agent Today (nor its associates and advertisers) in any way and are provided by users who wish to publish their independent opinions on our news. Whilst every effort is made to moderate these comments, due to the instant nature of the posting not all offensive material can be removed instantly. Please help us keep the comments areas tidy by reporting details of any infringements to team@estateagenttoday.co.uk

Most Read News Stories:

Three quarters of agents threaten to quit Rightmove
Friday 10th October 2008

EPCs on all properties for sale: VERY LATEST UPDATE
Monday 8th September 2008

HIPs abolition order is signed and ready
Monday 17th May 2010

NEWS FLASH – HIPs suspended
Thursday 20th May 2010

NEWS FLASH:HIPs face certain death
Wednesday 12th May 2010

RSS Feed

Share this article:

Digg it

Del.icio.us

Newsvine

Nowpublic

Facebook

Feedback:

If you have any questions or suggestions about this article or our news section, please don't hesitate to contact us.

Editorial Contact Details - Rosalind Renshaw | rosalind.renshaw@estateagenttoday.co.uk | 01252 843 566.