With new seller numbers outstripping new mortgage approvals by approximately 5:2, the second half of the year looks set to see prices drift back to where they were at the beginning of the year as buyers get the upper hand according to Rightmove.

Early indications from the next quarterly Rightmove Consumer Confidence Survey, due out in August, suggest a swing to a more negative outlook on the future direction of property prices.

In the April survey, before the election and emergency Budget, fewer than half of respondents (44%) believed that prices would be the same or lower in twelve months’ time. Of those surveyed so far in July, a majority (54%) now expect that prices will be the same or lower a year out, reducing for some the sense of urgency to buy.

Article from Propertytalklive.