Sellers making 'unrealistic' price demands

Those looking to sell homes are making unrealistic price demands, property portal Rightmove has warned.

In the month to mid-March the average asking price rose by 0.8 per cent, just one per cent below the all-time high level of October 2007, the site said, despite the significant change in the state of the market in the interim.

Commenting on this finding, commercial director Miles Shipside suggested sellers needed to adopt "smart pricing" to avoid property market stagnation due to potential buyers being put off by excessive demands.

News of the persistence of high price demands may prompt some would-be buyers to examine alternative - and cheaper - ways of getting on the property ladder, such as self build.

Finance journalist Tony Bonsignore has said that for many young first-time buyers and for families looking to expand house prices have become "prohibitively" high, Citywire reports.


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