publication date: Mar 22, 2011
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
Housing Market in the UK
Activity in the property market for February showed the usual seasonal uplift in the number of buyers coming onto the housing market and the number of sales being agreed. Under 'normal' circumstances we would probably have seen a bounce in house prices as a result by now, but in the main the increased activity is still poor versus pre-credit crunch and indeed activity in 2011 seems lower than 2010, so prices remain subdued.
There are some interesting dynamics as a pocket of areas and postodes around the country seem to be picking up and doing well, with some properties even ending up at sealed bids due to the demand, but this continues to be a rare occurence.
Buyers appear to be spending a lot of time looking and making the odd offer, while sellers are trying to hang on to as a high a price as possible, making negotiations very arduous and causing quite a few fall throughs post the offer stage.
READ MORE for Kate Faulkner's full comments and analysis on the Housing Market and for Regional Pricing Information.
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