Rightmove house prices stable
Rightmove said the average price of a property coming to market this September is virtually unchanged on a year ago at £234,858 (+0.7%).
Prices this month were also unchanged from five years ago at £235,176 – down just 0.1%.
In contrast average asking prices in the previous five years from September 2002 to September 2007 saw a 55% rise.
Rightmove said home-owners in London and the south, cash-rich buyers and buy-to-let investors had been the property winners over the past five years while the losers included trapped renters, mortgage prisoners, downtrodden down-traders, and sellers in the cash-strapped north.
Miles Shipside, housing market analyst at Rightmove, said: “Summer sellers have had some very stiff competition, not only from competing sellers chopping their prices but also from the Olympics extravaganza which has been more compelling for many than viewing property.
“Property coming to market is £11,000 cheaper than it was three months ago and there will be many hoping that this gives a boost to the autumn selling season if buyers leave their starting blocks in a hurry and join the traditional rush to see in the festive season in a new home”.