A lack of availability means that there are buyers who are not able to get as large a bargain as they would have done a few months ago, according to DTZ Residential.
There are fewer discounts available in the property market than in the past few months, a property advice firm has warned.
Property prices have plunged since the onset of the credit crunch and many people have taken the opportunity to buy property cheap. However, DTZ Residential director Mike Bickerton warned that a lack of availability means that it may be harder to pick up a bargain than some people think.
This shortage of property for sale is "the combined result of economic factors, including the availability of mortgage finance, job security, and buyer-seller confidence", he explained.
"Those buyers who are ready and willing to buy, whilst wanting to strike a hard bargain, are finding that as a result of the shortage of property they are not able to secure quite the size of discount that may have been possible a few months ago," Mr Bickerton continued. "In the coming months, we would see this trend continuing, with a decreasing discount available to buyers as the market recovers."
While house price indices suggest that property values are still falling, Rightmove reported this month that new property sellers have upped their average asking price by 2.4 percent compared with April.
