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Buyers vs. Sellers – the House Price War

There is set to be something of a standoff over the coming months, as buyers and sellers of houses within the UK lock horns over prices. There is a difference of opinion as to the price of housing from either side, with both seeking to gain as much as possible in the tough economy.

This is not good news for the UK housing market, and is likely to further stall sales of houses in the future, according to website, Rightmove.

According to a survey conducted by the property website, half of people still looking to buy a house within the next year feel that prices within their area are above what is ‘fair and reasonable’. However the views of people selling homes differ considerably, with only a third admitting prices are too high, and 57pc saying their main concern is receiving an offer that is ‘sensible’.

Nevertheless, despite how opinions differ, respondents of the survey did agree on one thing; that this episode is unlikely to lead a drop in prices. In fact 70pc of the 40,000 people surveyed believe that in a year’s time house prices will be the same or higher.

Director of Rightmove, Miles Shipshape concluded: “Unless both parties are able to bridge the price gap, then a stand-off situation ensues, leading to lower numbers of successful sales”.

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