RIGHTMOVE is raising its 2013 forecast again, from 4% to 6%, as high search activity and a fall in stock of property on agents’ books look set to create an autumn price surge.
August saw Rightmove’s traffic up more than 20% year-on-year and average property stock per estate agency branch has fallen from 72 properties to 70 as property coming off the market exceeds the amount coming on.
The average price of new to the market property is down by 1.5% (-£3,704) this month, though remains up by 7.2% (+£16,506) so far in 2013.
Miles Shipside, Rightmove director and housing market analyst comments: “We forecast the national average increase in new seller pricing for the whole of 2013 to be in the region of 6%, partly driven by the strength of southern markets but increasingly contributed to by the more buoyant areas of the north.
"Potential sellers should note that there is the possibility of this autumn’s market being a better time to sell than 2014 if you are trading up. The price gap to trade up might be smaller now and there may be more competition from other sellers next year if January’s second phase of Help to Buy unlocks the housing market”.
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