Property owners 'accepting their home is now worth less'

23 June 2009

Homeowners are beginning to realise their properties are no longer worth what they once were, it has been asserted.

After the Rightmove House Price Index revealed average asking prices fell in June for the first time in five months, Little House Company director Jane Marr explained people have struggled to accept the changing market.

"We have seen our private sellers reducing prices to kick start a sale," she said.

"They realise it's a buyer's market and pricing is the main issue that will help get a sale."

According to the Rightmove statistics, the average asking price is now £226,436 - 5.5 per cent lower than in June 2008.

However this is still six per cent higher than January this year and is way above the typical sale price of £155,600, as reported by Hometrack earlier this month.

Some property owners may decide they are unwilling to accept a reduce price for their residence and opt to improve instead, with a glazed extension or conservatory being two possible options. ADNFCR-1496-ID-19232586-ADNFCR

Holidays abroad 'more costly than last year'

22 June 2009
The number of Brits planning to spend their summer at home in the garden and conservatory may increase after it was revealed the pound has fallen dramatically against many major currencies in the last year.A Sainsbury's Bank study...

Newspaper advises on energy efficiency

12 May 2009
The Guardian newspaper has advised its readers of a number of ways to become more energy efficient - and thus save money.It explained a condensing gas boiler, which makes use of energy that would otherwise escape, can help homeowners...

Signs of market recovery could spark home improvement race

10 March 2009
The housing market may be showing signs that it could be beginning its long road to recovery.If this is the case, homeowners may consider adding a conservatory or glazed kitchen extension to help their property stand out from the crowd...