Saturday, September 27, 2008
Lucky to get out!
Home sellers are being forced to accept offers on average 9% below their asking price, said the Royal Institution of Chartered Surveyors (Rics). The gap between asking and selling price is widening as the property market downturn worsens, Rics added. Property prices have fallen by 11% in the past year, according to major lenders, while sales have fallen by more than half.