More householders in Coventry
and Warwickshire householders are trying to sell their homes - despite
a further drop in the prospect for prices they might receive.
The latest quarterly survey of
house prices by the Royal Institution of Chartered Surveyors has
revealed that more surveyors in the region are reporting lower prices
Harvey Williams, regional and
national housing spokesman for the RICS, said:
"Although there has
been a reduction in the number of people wanting to buy, we have a
somewhat anomalous situation where a growing number are entering the
market as sellers 5 per cent up on the previous month - despite
prices being on a downward trend,"
The report says transactions
fell as new buyers failed to enter the market - but the rate of
decline 7 per cent - was lower than that in July.
At the same time more property
is becoming available.
The report adds:
"The outlook for prices
remains poor but is slightly improved on that in July. The number of
sales are also forecast to drop over the next three months.
Mr Williams said:
"Seasonally, sales drop
off, so it is puzzling that there is a growing tendency to come to
market at a time when, traditionally, many feel it is not the best
time to be doing so.
"Whilst this is
inexplicably flying in the face of the norm, it does appear to be
It could be that they are
pinning their hopes on the most recent indications that the region's
labour market and general economy remain buoyant and look set to
the feeling that they want to sell before prices drop any further
could be encouraging others to venture into the market in such large
numbers at a comparatively late time in the house selling