14 Jul

Eager homeowners 'narrowing difference between selling and asking prices'

Eager homeowners 'narrowing difference between selling and asking prices'

Many people are eager to move house at the moment because they believe property prices are at their lowest and will only rise in the coming months, one industry expert has asserted.

Stewart Black, head of sales at fish4homes, believes that people "fortunate" enough to get a mortgage think they will miss out if they do not act now.

This, he states, is helping to contribute to the narrowing in the gap between asking and sale prices over the past year.

He explains: "The nature of supply and demand is that you have to pay closer to the asking price for the property you want to buy if supply is tight."

Sellers will also have to be "more bullish" about holding out for the best property price when making a sale, he concludes.

This comment comes as the National Association of Estate Agents revealed that difference between asking and selling price stood at 1.9 per cent in June, compared to 6.3 per cent in May.

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