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Following the release of the latest Rightmove House Price Index, Savills global retail estate providers claimed that it is no longer a seller's market and retailers have been forced to lower prices to sell property.
Lucien Cook, director of residential research at Savills, described the housing market as "strongly favoured to those who are in a position to move and that means those who have got accessibility to mortgage finance or accessibility to cash to bring their purchase".
According to research by Hometrack, the proportion of asking prices being achieved by selling in June stood at 91.6 per cent, down from 95.6 per cent a year ago.
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