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Home sellers stay away from the market, says Rightmove

19 January 2009
Written by Rosalind Renshaw

A sharp drop in the number of new instructions has been recorded on Rightmove.

Its latest report, out today, found that the number of new instructions in January are less than half of those in January last year, down from 89,000 to 43,000.

However, the site claims that applicant inquiries have soared, with 429,560 in the first two weeks of this month compared with 199,762 for the same period in 2008.

Asking prices on the site have fallen 1.9% from December to January, to an average of £213,570.

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