letting agents maidenhead & estate agents maidenhead appletons on 20 Nov 2007 10:11 am
House market winter slump
During October, the property prices fell by 0.7% as the winter has slowed down the buyers’ interest.The vendors were forced to drop their asking prices according to new figures published this week. Leading up to November, the average asking price was reduced by over £1500 in England and Wales. According to Rightmove, the average property prices thus dropped below £240000.
This drop has effectively brought the house prices back to July levels.
Analysts are widely expecting further price reductions before the end of this year and early part of next year. If the financial markets can achieve some stability, the analysts are saying that small price increases might be possible later in 2008.
However, noone is still expecting a wide recession in the economy; therefore they are ruling out a majot price correction at this stage.
Property in Maidenhead
