Property price increases in the beginning of the year and might completely wiped out in the next four to five months, a new research warns.
According to the Rightmove website the normal asking value of the property has increased by seven percent since January, increasing at 237,767 pounds in June month. However it says that the figure decreased by 0.6 percent during the four weeks to 10th July – and says this is probable to be the beginning of the further asking price decreases as homes flood on to the real estate market.

Rightmove’s commercial director, Miles Shipside said to Sky News channel, that the number of latest mortgages being approved is less than half the number of new vendors, feeding a flood of property or homes. He said that there are forty five percent more listings in July while compared to July a year ago, when the agent stocks are increased by twenty five percent since the beginning of the year. The company is discussing about national averages therefore there are local supply and demand differences. However the vendors should have a reality check and if there are ready to sell their property then they might increase the price more.

The Rightmove website said that situation is greatly changing to purchaser’s market. It is expected that the property prices would lose all of the gains and they had made thus far in year 2010 during the second half of the year.
Generally in the beginning of the year, the price actually rises at a very faster rate and in the middle of the year it reduces. In the middle of the year is actually is less enticing than the first and the comparison are great.