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Rightmove July 2015

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Bullishly written


"New analysis from Rightmove shows the biggest gap between demand and supply is in the first-time buyer sector:

Number of enquiries per property for two bedrooms or fewer is 24% higher than for larger properties of three bedrooms or more

Challenge for government, planners and developers is how best to address this specific demand

Price of property coming to market sees marginal increase for the second consecutive month to a new record high, up 0.1% (+£191) to £294,542

Sharp drop in new seller numbers emphasises supply crisis and shortage of people trading up:

Number of new sellers down 10.6% on same period in 2014

High June demand with Rightmove visits and enquiries to agents both up 22% on last year"

A note from the methodology caught my eye

"Rightmove measured 147,903 asking prices – circa 90% of the UK market. The properties were put on sale by estate agents from 7th June 2015 to 11th July 2015 and advertised on Rightmove.co.uk. This month 7,318 properties have been excluded due to being anomalies."

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Sharp drop in new sellers = too expensive to move because prices are too high and so many associated costs with moving are based on the cost of the house. It also shows how little actual cash people have if this is an issue in selling.

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And yet around only 12 months ago I'd say it was the exact opposite in my local area... larger houses were selling relatively quickly whilst hundreds of 2 bedders were languishing on the market for a long, long time.

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