The Rightmove property index for May is now on line. Look at it here.
The headlines would seem to be:
- New sellers push up asking prices by 2.4%,
- Lowest level of property coming to market in May for six years as falling values erode sellers’
- Prospective buyers with nothing to sell are increasingly active, encouraged by 59,072 properties
- Reducing asking prices by 2% or more in the last 4 weeks, with an average reduction of 6.8%
Here’s what we think… we are seeing an increase in instructions which suggests that more properties are on the market, prices are staying pretty constant (London and SE), more sales are falling apart than previous years.