From This is Money:
Average asking prices rise by 0.6% in September, according to the property listing website, which said a dwindling supply of property on agent’s books was deterring homeowners from trading up.
The average asking price was £223,996, down 1.5% on last year.
Rightmove said that estate agents had the lowest numbers of homes per sale per branch for 18 months, with almost a third more coming off their books than coming to the market.
The difficulty in finding good quality new homes to buy combined with the need to raise large deposits to get good mortgage rates, is putting off those who would otherwise consider moving.
A North South divide is well established, the study says, with property scarcity leaving the four regions in the south with higher or close to break-even asking prices than this time last year, but the northern regions remain in negative territory.
Miles Shipside, commercial director of Rightmove, comments: ‘There’s an autumn window for new sellers where a sensible…