Media to Blame for Greedy Vendors

A survey of independent estate agents across the UK suggests that 80 per cent of vendors this autumn believe their homes are worth more than they really are – and apparently it’s the fault of the media.

Research by Move with Us among its network of independent agents in the UK found that, despite recent media reports, agent opinion is that they have not seen a housing bubble in six regions across the UK.

The survey also uncovered the majority of agents in the North East, North West, Yorkshire and Humber, Wales, East Anglia and the South West have not witnessed any signs of ‘bubble-like’ price hikes over the last 12 months.

Agents’ opinions in Scotland, the East Midlands and the West Midlands were split on the matter but the only regions where agents were in firm agreement that there has been a housing bubble were Greater London and the South East where 92 per cent and 74 per cent respectively reported significant rises.

Robin King, director at Move with Us, says reporting of a housing bubble may be pushing home owners to set unrealistic asking prices – making the role of the local expert agent all the more important.

Ironically the research findings were released in a press release…to the media which Move with Us said was responsible for the phenomenon.