Large fall for UK house prices

According to one property website UK property prices fell by almost 2.5 per cent during the month of August. This follows a 1.7 per cent price drop during last month but according to the data supplied by Rightmove the level of UK property prices remains 2 per cent higher than twelve months ago, giving an average house price of around £236,260. Several leading UK real estate agents had expected a drop in the amount of new properties coming to market during the weeks covered by the 2012 London Olympics but this has not been the case – in general figures are slightly higher than a year ago, although new sellers are listing at lower than expected asking prices. UK property experts, mindful of the current economic climate, advise new sellers who are keen to sell before the year comes to a close to ensure that a realistic price is attached to the property to attract potential buyers and to be willing to negotiate on price as well as presenting the property in tip-top condition will help to give them the edge on similar properties currently on the market.