20
May
Expert reveals property market influences
The strength of the property market is influenced by three main
factors, according to one industry expert.
Simon Preston, chairman of online change of address service
iammoving.com, said the various public relations material
distributed by housing sector firms does not necessarily have an
effect on transactions.
"It is influenced by whether people need to move or want to move,
the choice of properties on the market and their ability to finance
them," he explained. "At the moment their ability to finance them
is still pretty challenging."
However, with a number of surveys indicating that property price
drops are levelling off, Mr Preston said he would not be surprised
if vendors' confidence is on the rise.
They may be holding prices or "nudging them up", he stated, before
adding that the proof will be seen in the level of transactions
that take place.
Mr Preston's comments come after Rightmove reported at the weekend
that new property sellers in May have raised average asking prices
by £5,364 on last month.
