From This is Money:
But research by The Co-operative Bank suggests that homeowners looking to sell are reluctant to admit that the price of their house has declined to such depths.
And the recent spate of house price studies reporting a slowdown in house price falls, or even a rise in monthly prices, are likely to lead to more sellers refusing to lower expectations.
This has left a gulf in expectation between buyers and sellers, with only 12% of those asked saying they would offer full asking price on the property they are looking to buy.
The Nationwide’s house price index has been one of the most optimistic since the start of the year, and revealed a fourth consecutive monthly rise in August.
But the property market remains very much subdued, with transactions still only at just over half long-term levels, banks and building societies reluctant to lend and mortgages difficult to get.
John Hughes, of the Co-op said: ‘With much speculation about green shoots of recovery in the housing market,…