Asking prices called into question
A new report has shown that asking prices are being slashed by as much as £25,000 in some areas.
In the Isle of Man discounts have reached £41,212, according to the property portal Zoopla, while sellers in Bradford and Doncaster are accepting offers up to £13,000 below their asking price.
Zoopla released its findings as the Royal Institution of Chartered Surveyors (RICS) published a report warning of a rise in the number of sellers withdrawing from the market.
Fortunately for Hampshire and the South East, the market is incredibly resilient with fewer fluctuations of the kind seen elsewhere.
It is also important to note that the size of any discount to the asking price may depend on many different factors – not least that a property is priced realistically in line with local market conditions in the first place.
A local agent such as Chinneck Shaw has local knowledge and professionals with many years expertise who can accurately gauge each individual property’s value based on its own attributes and local market conditions at the exact time it goes up for sale.
There may be other many other factors too: how quickly the vendor wants to sell, issues identified in a survey, time of year and so on.
By all means do your research – https://www.zoopla.co.uk/discover/property-news/asking-price-of-average-uk-home-reduced-by-25k/#gYTjfZU3ruS3fwaq.97 – but please don’t hesitate to get in touch with us for a more detailed and informed analysis about prices and market conditions in your area.