More homeowners 'have to sell'

More people than ever in the UK are now selling up and moving to a new property because they have to, one expert has claimed, with many simply unable to afford to stay in the house they are currently residing in.

Property company haart reported earlier this week that there are now far more houses coming into the housing market for sale than there used to be in the past. It said that there was a 10.1 per cent increase in the number of homes for sale in May compared to April of 2012, and 3.9 per cent more than in the same month just a year ago.

According to Nick Marr, director at the Little House Company, there are now a greater number of people who are finding themselves under pressure to get rid of their properties because of the fact that they are looking to move to a cheaper location or find something smaller to live in.

"We have also noticed more people listing their homes with us for the first time, while old sellers are activating listings they took offline and there has also been an increase in people using our featured property in the last month.

"We take from this that owners are now in a position where they want to give the market another try because they have to. Homeowners need to move for various reasons from relocation to downsizing."

Mr Marr also said that there has been an increase in fortunes for those who are looking to buy houses however. He stressed the fact that many sellers are now finding themselves frustrated with the state of the property market at the moment, and as a result, they are looking to reduce their price in order that they can secure a sale for more easily.

This means that people can secure a home for a smaller price than it may have cost them to buy it in the past.