Home-movers believe prices are still above ‘fair and reasonable’ levels
Although the proportion of home-movers expecting house prices to increase is at its highest since autumn 2010, many feel property values in their local area are pricey.
Nearly half (46%) of those surveyed in Rightmove’s Q2 Consumer House Price Forecast stated they feel property prices in their local area are above fair and reasonable levels.
Miles Shipside comments:
“In spite nearly half of people stating they think property prices are top heavy in their local area, the overwhelming view is that property prices will be the same or higher in a years’ time. Those that are active in the market are perhaps looking in the better areas so their view is likely to be influenced by more buoyant conditions in cash rich locations. The less active deposit-poor areas will be those where prices will have to be dropped if a seller is keen to sell.”