GENEVA, Switzerland, September 19, 2011 -
READING, England, September 19, 2011 -
LONDON, September 19, 2011 -
LONDON, September 19, 2011 - Property website Rightmove reports that new sellers coming to market in September have asked 0.7% (£1,596) more for their properties than last month, to leave the average asking price for a property in the UK at £233,139. This month is the third anniversary of the collapse of Lehman Brothers, which triggered the freeze in credit markets and wholesale mortgage funding. It is concerning that many of Rightmove's key metrics have not changed since then, indicating that recovery still remains on hold until the lending squeeze eases. Given these market conditions and the 94 day average time a property is on the market, sellers seeking to tie up a deal in the 98 days left before Christmas need to take action now to undercut and out-promote their competition.
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