{"id":722,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/house-price-crash\/"},"modified":"2016-09-09T12:41:28","modified_gmt":"2016-09-09T12:41:28","slug":"house-price-crash","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/house-price-crash\/","title":{"rendered":"House Price Crash?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p> \t&nbsp;<\/p>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><img loading=\"lazy\" align=\"right\" alt=\"\" border=\"0\" height=\"253\" src=\"\/uploads\/media\/House-Prices-uk.jpg\" width=\"380\" \/>A GROWING number of homeowners are selling up in a move that will trigger a sharp house price fall, a report has warned. <\/span><\/div>\n<div style=\"line-height: normal\">\n<p> \t<span style=\"font-family: Verdana; font-size: 10pt\">Asking prices have dropped for the first time in 2010 and are predicted to plunge even lower by the end of the year. <\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">The report by property website Rightmove said a<span style=\"font-family: Verdana; font-size: 10pt\">sking prices fell by 0.6% this month, with the typical seller knocking off \u00a31,435, the first drop since December. <\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">The report blames the price fall on a rising tide of homeowners deciding to sell. More than 30,000 homes are flooding on to the market each week, almost 50% up on last July.<\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; color: black; font-size: 10pt\">Rightmove, w<\/span><span style=\"font-family: Verdana; font-size: 10pt\">hich advertises about 90% of all <a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\" title=\"properties for sale\">properties for sale<\/a>, said mortgages were being \u201crationed\u201d, which is further reducing the number of buyers. <\/span><\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">Just 11,000 mortgages a week are being approved, a third of the number of properties coming onto the market. <\/span><\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">Miles Shipside, commercial director of <a c79a750effb78ca=\"true\" href=\"http:\/\/www.thelittlehousecompany.co.uk\/low-cost-estate-agents.htm\">Rightmove<\/a>, said: \u201cBuyers have got the upper hand.<\/span><\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">\u201cWith agents beginning to choke on a surfeit of new stock, sellers are going to have to price at bargain levels and bullishly promote their properties.\u201d <\/span><\/span><\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">Meanwhile, the number of unsold properties has been rising every month. In January, the average was 3 per estate agent, today it is 77, the highest figure in two years. <\/span><\/span><\/span><\/span><\/span><\/span><\/div>\n<div style=\"line-height: normal\"> \t<span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\"><span style=\"font-family: Verdana; font-size: 10pt\">Since the start of the year, asking prices have risen by about 7% from an average of \u00a3221,463 to \u00a3236,332. But Mr Shipside said this gain will be \u201cwiped out\u201d by the end of the year. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; A GROWING number of homeowners are selling up in a move that will trigger a sharp house price fall, a report has warned. Asking prices have dropped for the first time in 2010 and are predicted to plunge even<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/house-price-crash\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/house_price_crash_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/722"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=722"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/722\/revisions"}],"predecessor-version":[{"id":1694,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/722\/revisions\/1694"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=722"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}