With some agents squabbling about whether there has been or will be a post-election bounce, Rightmove has come down firmly insisting there will be a boomlet - and it could mean up to 17 per cent more sellers.
The portal’s latest house price index shows an unseasonal drop in asking prices - down 0.1 per cent and sharply contrasting with the monthly figure this time last year, when there was a 2.1 per cent increase.
However Rightmove insists that buyer affordability is now much improved with the annual rise in asking prices running at a modest 2.5 per cent. It says the brakes are off the market thanks to the election of a majority government, and it says the 17 per cent jump in seller-numbers after the 2010 election may be repeated.
“Whilst activity was buoyant in early spring with demand outstripping supply, pre-election jitters finally came home to roost in the final weeks. This is an election-driven price stall which gives some buyers only short-term relief from the back-drop of a long-term housing shortage” says portal commercial director Miles Shipside.
“The underlying supply/demand imbalance has meant the election uncertainty has not had a negative price outcome in seven out of 10 regions in the country. However, having been faced with an all-time asking price high in April of £286,133 nationally, any drop is welcome to those at the upper end of the stretched affordability curve” he says.