Twitter Facebook RSS FEEDS

Shortage of sellers set to underpin house prices

Monday, 16 January 2012 9:23 AM

Estate agents are marketing less than one new property per week per branch, the lowest level ever seen, according to Rightmove’s January house price index.

The property website said asking prices rose 1.4 per cent in the first week of 2012 but are still down 0.8 per cent on the month. It sees this as an early indicator that a shortage of new sellers is likely to underpin prices this year, especially in local micro-markets with limited supply.

In contrast, demand has reached a new record high, with search activity on Rightmove's website up 27 per cent on a year ago.

It forecasts that the winners in the 2012 property market will be first-time buyers who get help with their deposit, trader-uppers with equity, savvy buy-to-let investors, some golden-oldies and people selling properties “with a difference”.

The losers will be trapped renters and sellers of “average” homes who are unable or unwilling to offer a cut-price deal.

Miles Shipside, director of Rightmove, said: “The market is stuck in a low transaction volume pit that will be hard to escape from without the mortgage funding to satisfy what appears to be strong pent-up demand.”

Want to be the first to know when we break a story? on Twitter and subscribe to our free weekly newsletter.

Related stories

Almost half of people questioned think that property prices in their local area are above fair and reasonable levels.

Surge in buyers expecting house prices to rise

One in three home movers now expect prices to be higher in a year’s time, says Rightmove.

 London is propping up UK house prices. Image:Thinkstock

Asking prices for homes reach new all-time high

National average beats previous high set in May 2008 but London and South West lead market, says Rightmove.
New sellers increased their prices by an average of £3,687 in March alone. Image:Thinkstock

Asking prices rise at fastest rate for eight years

Big question is whether the market bounce will survive the end of the stamp duty holiday, says Rightmove.

Rightmove expects 1.2 million new sellers in 2012, slightly down on 2011.

Asking prices set to rise two per cent in 2012

Rightmove says shortage of new sellers and low interest rates will underpin market next year.
Rightmove say the average asking price for a home fell more than £7,500 in November

Shortage of supply fails to stop big price fall

Eurozone crisis knocks consumer confidence as asking prices for new homes fall at fastest rate for four years.

 The most immediate threat to the market is the Eurozone crisis. Image:Thinkstock

Spring bounce falls flat in housing market

Asking prices failed to rise in May for the first time in 11 years as demand and supply both fall, says Rightmove.
Just 14 per cent in Blackpool think houses prices will rise over the next 12 months. Image:Thinkstock

Balance of market power switches to buyers

Six out of ten say it's a buyers' market in latest Rightmove consumer confidence survey.

 Row of houses with beams

House prices increase in March says Rightmove

House prices continue to rise, pulling the bottom rung of the property ladder out of reach of first-time buyers.
Expectations about price rises are highest in London.

Faith in bricks and mortar survives economic gloom

Two thirds of home movers expect house prices to stay the same or rise in 2012, says Rightmove.

Nationally there has been a rise of 2.8 per cent in new sellers' asking prices, but this glosses over the gulf between north and south. Image: Thinkstock

North south price divide grows

The huge gulf between north and south property prices in the UK is at a record level according to a report from Rightmove.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.