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House sellers cut asking prices in July

New figures from Rightmove showed that the average asking prices fell 1.7 %, or £4,138, the largest drop in four years.

The average asking prices fell from £246,235 in June to £242,097 in July. The fall could be due to the wet weather or the Olympics putting off the potential buyers from viewing properties.

Miles Shipside, director of Rightmove, said: “The fact that we have not seen major price falls in the UK and that many areas are not awash with agents’ ‘For Sale’ boards may lead some sellers to be over-optimistic with their pricing.”

Sellers would have to cut asking prices in order to sell properties successfully, according to Rightmove.

This was posted in Bdaily's Members' News section by Yu-Chih Lin .