Property market is much slower

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Britons thinking of selling their home should expect to find it a tough proposition, according to a leading property website.

With a "much slower" market than normal curtailing many homeowners plans to upsize, some may consider adding an improvement such as a conservatory to make the property a more pleasant place to live and an easier place to sell.

A recent Hometrack study revealed that the average property now stays on the market for 12.3 weeks.

Compare this to the 12 weeks and 11.8 weeks for the previous two months and it is clear to see which way the market is heading.

Findaproperty content editor Michael OFlynn explained that quick sales are simply not on the cards anymore.

"The average figure for time on the market is up 45 per cent year-on-year so, yes, sellers need to be aware that the market is much slower," he said.

The Rightmove House Price Index shows that the average value of a UK home in January was just £213,570 – down 1.9 per cent on Decembers figures."ADNFCR-1495-ID-19009299-ADNFCR"

 

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