UK Property Asking Prices Plunge In November-Rightmove
21 11월 2011 - 9:30AM
Dow Jones News
The average price asked by U.K. homeowners seeking to sell their
property suffered its biggest monthly fall in almost four years in
November, an online estate agency said Monday, as deepening
uncertainty about the nation's economic prospects scared off both
buyers and sellers.
Rightmove PLC (RMV.LN) said the average asking price for a
property in the U.K. fell to GBP232,144 in November from GBP239,672
in October, a decline of 3.1% on the month, as sellers were forced
to cut their prices to secure a deal. That's the biggest monthly
fall since December 2007, Rightmove said. Average prices were,
however, 1.2% higher in November than they were a year earlier.
Average prices in London fell just 1.2% on the month.
The estate agency said a traditional slowdown in housing market
activity during the winter has started earlier than usual. The
number of new sellers coming to the market plunged 13% on the month
in November and the number of new properties hitting the market
each week is the lowest recorded in November since 2008, when the
collapse of U.S. investment bank Lehman Brothers heralded a global
recession.
Rightmove director Miles Shipside said such a shortage would
typically help support prices, but uncertainty has hit activity
hard. Policy makers in the euro zone are struggling to contain a
sovereign debt crisis that has cost leaders in Greece and Italy
their jobs, while in the U.K. the Bank of England has slashed its
forecasts for growth.
"While most home movers will have seen some foreign prime
ministers losing their jobs, they will be much more keenly aware of
the unsettled outlook for their own employment," Shipside said.
"When you are busy looking over your shoulder, you are unlikely to
think it is a good market for selling."
Rightmove said 70% of homeowners it quizzed thought now is a bad
time to sell.
Still, the estate agency added buyers with plenty of cash are
finding they have a strong hand when negotiating a purchase.
Investors seeking to buy homes to rent out should be able to secure
bargains, it said.
-By Jason Douglas, Dow Jones Newswires, 44 20 7842 9272;
jason.douglas@dowjones.com
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