The gap between asking and selling prices narrowed considerably in June, a new survey suggests.
Buyers have been forced to pay closer to the asking price because the supply of for-sale property has tightened, Stewart Black, head of sales at fish4homes, claims.
Homeowners who are waiting for the property market to recover before selling their house may decide to boost its value by carrying out some DIY.
They may want to check their
home insurance first to make sure that any improvements do not end up being a financial headache if they are not covered.
Mr Black states: "Those [buyers] fortunate enough to be able to get a mortgage are much more focused on making the move now, as they believe that property prices are at their lowest and will only rise over the coming months."
Brits moving into a new property may want to remember to put any spare cash to one side for a home insurance policy, which could help cover the cost of damage to possessions whilst they are moving in.
The National Association of Estate Agents recently revealed that the difference between asking and selling price in June was 1.9 per cent, compared to 6.3 per cent in May.
InsureandGo provides home insurance for both buyers and sellers of property.
