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UK asking prices have fallen 1.7% this month as sellers outnumber buyers and the seasonal lull combined to take the heat out of the property market.
House price gains made in the first half of 2010 are set to be wiped out, due to aggressive pricing and a flood of new sellers coming to market, Rightmove warns.
The latest Rightmove house price index has revealed a virtual price standstill as new sellers are asking for just 0.1% more for their properties in March.
Other Rightmove articles
Asking prices for houses in England and Wales experienced their biggest monthly increase since April 2007, according to Rightmove.
More than half of consumers now expect house prices to be higher this time next year, a survey suggests, representing a huge change in sentiment from earlier in 2009.
Rightmove expects three further months of falls in asking prices following a 1.6% fall in November.
Rightmove expects three further months of falls in asking prices following its latest index recording a 1.6% fall in November.
Asking prices are falling this month as sellers drop prices to more realistic levels in the traditional housing market summer lull, according to the latest index from property website Rightmove.
A record year for insurer Norwich Union has helped parent company Aviva report a 12% rise in profits for 2006, says the Daily Telegraph .
Higher interest rates could be starting to bite in the property market as the monthly rate of increase in house prices in February slowed to the lowest in five years, says the Daily Telegraph .
Standard Life is scrapping the retirement age for its 8,000 workers ahead of new employment legislation aimed at outlawing age discrimination, reports the Scotsman .
SHARES IN companies preparing to be involved in Home Information Packs took a nasty knock after a government U-turn on what the packs will contain.
Shares in property listings service Rightmove have jumped more than 15% to put the company in touching distance of a £500m value on the first day of trading as investors bet its opening price undervalued the business.
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