Home sellers 'must face up' to realistic prices

The property market is not as strong as it used to be, which is worth bearing in mind when selling your own home.

Nick Marr, director at the Little House Company, explained that the property market largely feels as though it is grinding to a halt.

"With the vast majority of properties that have been put up for sale in 2011 still on sale, it is a worrying time for everybody in the housing market," he explained.

People need to realise that any valuation on their property from 12 months ago will no longer be valid as prices are largely in decline, Mr Marr added.

Rightmove reported earlier this month that July saw the year's first decline in asking prices, as new sellers dropped their prices by 1.6 per cent.

Furthermore, it found that seven out of ten properties marketed so far this year are still on the market.

  • Property News from Lawpack: avoid estate agent fees and save £££s with Lawpack's Sell Your Own Home Kit.

Published on: July 20, 2011

Did you like this article? Share it!