Rate rise sees a return to a buyers market
Right Move the leading Property Portal saw Estate Agents stocks of un sold property increase by 10% in June. Aside from HIPs it seems as though the rush to market may also have been fuelled by sellers who wish to cash in on the gains seen in property values over the past few years. The combination of increased supply on the one hand and worsening affordability due to higher interest rates on the other could well result in a softening of prices. In commenting on the situation Miles Shipside Commercial Director of Right Move said – “…..sellers must price more aggressively to attract possible buyers”.
In a changing market good estate agents will work with their Sellers to get the pricing strategy right.
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