You are here: cherry > Press releases for October 2011 > Comments from Nick Hopkinson, Director of property company, PPR Estates, on the latest Rightmove House Price Index for October.

18 October 2011

�Ever hopeful estate agents are still trying their best to push asking prices upwards. This is despite the latest Land Registry data showing that house prices are falling year on year. It is also in stark contrast to the wider economic mood across the UK where most potential buyers either can�t afford or won�t risk taking on new debts. The Euro crisis is looming large in the media, unemployment just reached its highest level since the early 1990s and inflation is wreaking havoc on household finances across the UK. �Asking prices in the North are finally starting to fall, although they are still some 15% to 20% above the price anyone really wanting to sell will achieve in most locations. Within the South, undoubtedly, the millionaire �enclaves� in Knightsbridge and Kensington are still seeing price rises due to very limited supply. However, this may as well be happening on another planet as far as most homeowners are concerned. These few expensive properties are distorting even these regional figures as house prices in all the summer riot �hotspots� have certainly fallen, along with most other affordable locations since last year. Anyone really wanting to sell their house needs to price much more aggressively than their agent may wish to pretend at the moment.� If you would like to speak to Nick, you can contact him on 07768 144497.

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