House Property Prices - Is the media causing optimistic asking prices?

publication date: Jun 23, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

House Property Prices - Is the media causing optimistic asking prices?

Property Price News

May's property market looks like we are heading into a more stabilised market for the rest of 2010, so sellers need to sell this summer, or are likely to have to drop prices by September if not sold. Sellers are either pricing their properties fairly from the start and selling within eight weeks, or they are over pricing them and then sitting on the market for weeks on end.

Currently, there is a real danger that media 'stories' suggesting property prices are on the up (which are just verbatum reports from press releases from the likes of Nationwide, Halifax etc) are causing optimistic asking prices by sellers. BE WARNED, sellers that over price will sit on the market for months. In this market, opt for the auction model - price low, get buyers to compete for your property to get the highest price!  

For a more indepth analysis of what's happening to property prices in YOUR local area? READ MORE

The outlook for 2010 will depend on whether buyers have run out of cash and interest rates go up forcing repossession. READ MORE for a summary of Kate's price predictions for 2010.

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