Sellers coming with higher expectations
The average price of a new property coming to market has risen by 8.8% during the first 8 months of 2013, according to Rightmove House Price Index. But is this increased confidence well founded or just wishful thinking?
The national average asking price has risen by over £20,000 throughout the 8 months of the year so far. True to form, asking prices did dip in August (1.8%). However even this bucked the trend by falling short of the average for the last five years of over 2%.
August was also a record breaking month in terms of asking prices for flats and apartments.
Yet despite this optimism mortgage lending, whilst improving, continues to be shackled by high deposit requirements – something increased property prices are not helping resolve.
Top tips for sellers
While it’s impossible to satisfy everyone there are some common things which tend to discourage potential buyers:
- Noisy neighbours (55%, 28 million people)
- Mouldy rooms (49%, 25 million)
- Poor state of repair (43%, 22 million)
- No central heating (30%, 15 million)
- Untidy neighbouring gardens (28%, 14 million)
- Unpleasant smells e.g. smokers/pets (27%, 13.5 million)
- Badly kept communal areas (16%, 8 million)
- No double glazing (14%, 7 million)
- Partially completed building work and/or decoration (8%, 4 million)
- Brown/green bathroom suite (4%, 2 million)
- Overgrown garden (4%, 2 million)
- Decorating isn’t to their taste (2%, 1 million).
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Content correct at time of publication