House prices stabilising
Recent months have seen the gap between the asking and selling price for homes grow, however recently this gap has begun to narrow. Recent figures show that around 60 of UK surveyors have seen the gap narrow over the past three months, hinting signs that the end of the recession may be coming to an end.
The average house in the UK market is current selling for 11 below the asking price, in some cases sellers are accepting at 26 below. London has seen the best improvements with 93 of sellers achieving their asking price, with around 55 of the surveyors reporting a noticeable reduction in the gap.
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June 17th 2009