Average asking prices fell by 0.4% in June – the first fall in four months according to a new report
A fall in asking prices by 0.4% was recorded by Rightmove in June, the first fall in five months, said the property website. Still, asking prices are still up 6% overall in 2009, fuelled by a shortage of saleable property and the equity rich calling the bottom of the market.
Supply and demand differ widely between the north and the south of the country, according to the report, as supply in the south east becomes increasingly limited (down over 50% on this time last year), which buoys prices, as opposed to the north which has over 33% fewer properties, serving to keep prices more depressed.
* For more news stories like this every week subscribe and save
Miles Shipside from Rightmove was quick to warn that the market is not yet back to its normal behaviour: ‘It is a mistake to confuse the upturn in enquiries and sales with a return to a more normal market. While conditions are much improved on the darkest days of last year, we are now starting to see some big distortions and wild swings due to the combined effects of recession and mortgage availability,’ he said.
* More news on the property market and house prices
-
Chelsea Flower Show 2025: What else to do in SW3 if you're coming to the world's greatest flower showThere's more to Chelsea than just the Flower Show so we've rounded up some of the best places to eat, stay and shop.
-
Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curvesAmid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
