Consequently there will probably be a period of slow movement in the property buying arena, as many property sellers look to receive as much of their homes value as possible.
London, UK (PRWEB) February 11, 2010
Reported increases in the asking prices for properties across the UK may cause many buyers to think twice about moving according to Ratedpeople.com, the UK's largest matchmaking service for home improvers and recommended tradesmen.
Recent research from Rightmove has revealed that whilst the actual value of homes has not shifted over the past few weeks, the asking prices have already increased by around 1.2 per cent, as home owners try to gain more than their property is worth.
Ratedpeople.com has indicated that as a result, there may be a period of slow movement in the property market, due to home owners being unwilling to stretch their finances for homes at inflated prices. A century low in the number of properties for sale also means that those people interested in investing in a new home may suffer from a lack of choice.
Along with this, some first time buyers may find that they are priced out of the housing market, with many of the valuations being elevated beyond what they can afford. As such, these developments may lead to an increase in aspiring home owners searching for property to rent rather than buy explains Founder and CEO of Ratedpeople.com, Andrew Skipwith:
"The elevated asking prices for properties since the beginning of January this year, could drive many prospective buyers to rent, either as a short term solution whilst they save the extra funds needed to buy a home outright, or as an alternative to buying all together.
"Consequently there will probably be a period of slow movement in the property buying arena, as many property sellers look to receive as much of their homes value as possible."
Ratedpeople.com helps home improvers find recommended tradesmen quickly and easily. You can choose from 24 different trades and find tradesmen such as local plumbers or local painters. Ratedpeople.com also provides a wide range of advice and tips to home owners, from information on loft conversions to step by step guides for bathroom and kitchen renovations.
Every month, Ratedpeople.com manages over £30m in home improvement projects with more than 1,000 tradesmen signing up, making it the UK's largest match making service for home improvers and recommended tradesmen. There are more than 55,000 ratings on Ratedpeople.com to date and its system ensures that tradesmen are only rated by previous customers who find them through the site. This results in one of the fairest and most robust rating systems on the web.
For further information on how to source a recommended tradesman in your area, visit Ratedpeople.com.