The duopoly of Rightmove and Zoopla may be under threat next year, as a partnership of estate agents plan to build their own property website - with lower listing fees.
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New home sales increase while re-sale property asking prices drop – will this lead to more unoccupied property? House builder Bovis has reported a doubling of profit and an increase in the price achieved for new sales compared to last year. This is while the property sales site Rightmove report a fall in the average asking price of 2.2pc compared to a normal decrease in August of half that figure over the past 10 years.
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People putting their houses on the market have dropped their initial price expectations by asking an average of £4,138 (-1.7%) less than sellers in the previous month. This is the first fall Rightmove has recorded in July since 2008.
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Property website Rightmove says that two in five of those intending to sell their homes in the next year are intending to trade down to smaller properties
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