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Moving home is increasingly difficult
23 July 2008
People looking to move houses are finding the state of the property and mortgage market very frustrating, according to a real estate service provider.
With the average asking price for a house falling by 1.8 per cent according to the Rightmove House Price Index, people looking to sell their house will have to accept they will receive less money than originally expected, claims Savills.
Lucian Cook, director of Savills residential research, said: "They are faced with the prospect of not moving or having their property on the market for a very significant period of time."
While people looking to buy a house are being stifled by the reduction of the amount of mortgage products on the market
"Being in the housing market at the moment is difficult and in those circumstances I think it will cause some people significant frustration," said Mr Cook.
According to the Rightmove House Price Index for July, this year sees average unsold property numbers rising from 74 to 77, the highest figure ever measured.
