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Housing Market Property Sellers Show Optimism with Higher Asking Prices

Housing Market Property Sellers Show Optimism with Higher Asking Prices

Home sellers are finding the housing market favorable to their goals. Despite the postponement of Brexit and the uncertainty that is said to be holding back home buyers and other consumers, there has been an uptick to property purchases. That is motivating home sellers. Rightmove reported the average price of property coming on to the market was £309,348. This is just shy of the June 2018 record high reported of £309,439.

Properties in the north of England are said to have pushed the average upward as buyers are keen to purchase there. Demand is strong and that is not expected to change anytime soon, which is good news for home sellers there and elsewhere.

Miles Shipside, director of Rightmove, remarked, “Buyers in four regions are seeing higher new seller asking prices on average than ever before.”

London continues to see declines in asking prices. House prices in the capital had grown beyond the threshold of willing buyers. Those looking to sell are finding an aggressive stance could be the ticket to a sale. By making their asking prices competitive it could get their property off the market while others sit and wait. London’s monthly asking prices declined by 0.4%.

The resilient housing market has helped keep homeowners optimistic. With confidence shown by home buyers, especially first time buyers according to some reports, homeowners have been seeking to release cash out of their built up equity through remortgaging. Along with the cash, homeowners are discovering low interest rates, attractive fixed rate remortgages, and incentives that are helping to sweeten the deals.

Few believe that the housing market will switch gears anytime soon. It is surrounded in optimism and though it isn’t burning in growth, it isn’t chilling to a halt either. Such news should motivate sellers, first time buyers, home movers, and landlords.

                                                      

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