Sellers realising their homes are worth less

Homeowners choosing whether to move or improve with a conservatory or pool house may be interested in recent comments from the Little House Company.

The firms director was discussing findings from Rightmove when she said sellers are now starting to realise they are unlikely to be able to command the same fee as they would have done a year ago.

Statistics show there has been a 20 per cent rise in the number of properties on the market in July, compared to the average for the year thus far.

The figures revealed more than 21,000 residences were made available in each week this month, while asking prices increased by 6.7 per cent.

Commenting, Jane Marr suggested a "psychological barrier" had been broken and people were now more willing to accept the state of the industry.

"Now confidence is coming back, they are more prepared to go ahead with a sale and to get moving with their lives," she explained.

It could mean homeowners are left with a choice of accepting a reduced value for their property or carrying out a modification such as a glazed extension to improve their living conditions.