There’s a report out today from Rightmove which highlights the fact that the housing market has a high level of unsold stock at the present time. For more details, see this piece from The Independent. http://ind.pn/hGyVwj
It’s not too surprising that this should be happening bearing in mind current conditions and the financial position many people find themselves in. Today also sees the release of a survey by the data firm Markit which says that the overall situation represents a “further steep deterioration in household finances.” http://bit.ly/eI2HIk
Notwithstanding that, we still have to go on living normally and, for some of us, that will involve moving house. We’ve been looking around at the properties advertised for sale and it certainly appears that vendors are starting to test the market by inflating the prices to some extent at least. This is undoubtedly contributing to any stagnation but at the same time provides an opportunity for realistic sellers.