70% of this year's sellers are still seeking a buyer
% Change in month
% Change Past Year
Ave house price
July HPI
-1.6%
0.1%
£236,597
June HPI
0.6%
1.1%
£240,394
Key points
July sees the first fall recorded in 2011 as new sellers drop asking prices by 1.6% (£3,797)
7 out of 10 properties marketed so far in 2011 are still on the market, indicating that many equity-poor sellers are unwilling or unable to reduce their prices further—an opportunity for the equity-rich to cut their prices and do deals
Number of new sellers down 12% on July 2010, as many owners are unable to raise the deposit required to fund their next move
Retail price inflation outstripped property prices by 14% over the last four years, improving buyer affordability but undermining perception of bricks and mortar as a hedge against inflation
