House asking prices dropping

House asking prices in England and Wales dropped by 1.7 per cent in August, people looking at cheap mortgage may be interested to know.

Figures from property website Rightmove highlighted that prices fell by the biggest margin since December, when a 2.2 per cent decrease was reported.

However, asking prices were 4.3 per cent higher than a year ago.

The data also showed that average stock per agent rose 2.2 per cent, marking the sixth consecutive month of rises.

"No one really wants to come to market in August unless they have to. It shows these new sellers have a compelling need to sell," Rightmove commercial director Miles Shipside said.

"Those who marketed earlier in the year but have yet to find a buyer may have to do a bit of pruning of their own to beat this new competition," he added.

Data from the Royal Institution of Chartered Surveyors highlighted that more chartered surveyors reported a fall in prices than a rise last month for the first time since July 2009.
 

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2010-08-16 13:09:41 © Moneyextra.com