Property buyer confidence 'set to improve'

News Category: Industry News

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More landlords could be set to purchase new property for letting as consumer confidence improves in the UK housing market, it has been suggested.

According to Chris Brown, president of the National Association of Estate Agents, the latest property statistics from Rightmove showed that sellers are adjusting their asking prices in line with the economic reality they face today.

This trend will give property buyers more confidence, which is key to bringing recovery to the market, he suggested.

"They will spend less time looking around houses with last year’s price tags attached and can have more confidence in the market," Mr Brown said.

Rightmove's house price index recorded a 7.1 per cent year-on-year fall in the average seller's asking price.

The firm said cash-rich and mortgage-ready buyers have a good opportunity to cash-in on bargain house prices this Christmas - which could mean that more landlords are likely to make additions to their property portfolios during the winter season.

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