Rising asking prices make homes unaffordable to home buyers

Property prices have risen but consumers do not want to buy. Rising property prices are turning off potential buyers from entering the property market. Home buyers are showing a reluctance to make a purchase after sellers increased their asking prices by £4,000 this month. The rise means that the price of property in the UK has increased by £13,000 since the beginning of the year. Estate agents have urged sellers to reduce their prices to secure a sale and address the imbalance of high prices and low purchase power.