Highest figure of unsold properties for two years
Unsold properties are at the highest level since 2009 according to research. The average number of properties being placed on the market by new sellers is 74 in June which is a slight increase from the month of May. Many sellers have been encouraged that they could get a sale so they have placed their property on the market in order to achieve the quickest sale possible. The number of sales per branch has increased throughout the months even though stocks have risen.
Increased stock is proving to show a wider choice of properties for buyers and especially first time buyers but mortgages are still proving to be found a problem. Registered potential buyers in many agent branches have fell by 10 people per branch.
“House asking prices fell for the first time this year in July as the number of unsold properties on estate agents’ books climbed.” Rightmove quoted.
The problem of getting a mortgage is proving to be consistent even though the market varies from region to region according to Rightmove and NAEA (National Association of Estate Agents)
Some agents have proven to be guilt of over valuation on a property to interest sellers to go with them which causes the problems for the sellers when they find potential buyers.