Election 2010: Housing market falters in election run-up

The supply of available properties is now outstripping demand, in a sharp turnaround since the end of 2009, according to property market analysts Hometrack. At the same time buyers are taking longer to commit to a purchase, with the viewings per sale increasing for the third consecutive month in April. Meanwhile, the average asking price achieved is stagnating at 94%. Hometrack says estate agents are finding it harder to maintain increases in price while achieving sales volumes - the average time taken to sell a property has now plateaued at 8.3 weeks. Richard Donnell, director of ...