Lack of asking price deters house hunters

The vast majority of house hunters are turning their noses up at properties that do not come with an advertised asking price.

Figures compiled by real estate firm PRDnationwide showed that 75 per cent of home loan customers are instantly deterred from looking at a house if the existing owner has not provided a concrete valuation, Australian Property Investor reports.

Recent figures released by the Housing Industry Association showed that the number of properties being bought across Australia grew in February, although the market remains subdued and sellers are doing themselves no favours by keeping the asking price a secret.

Director of the research Aaron Maskrey told the magazine that just 2.5 per cent of respondents would not be put off by the lack of a valuation.

"Typically, sales activity across the market is well below the longer-term average and every effort should be made to be seen by the most number of house hunters," he remarked.

Have a question about home loans? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801333930-ADNFCR