FIRST FINISHERS PRICE IT RIGHT

News at Ware & Co | 11/07/2023

  • Property prices have moderated and while demand remains across the market, sensible and realistic initial pricing impacts on sales success.
  • Data from Rightmove indicates that properties that experience a price reduction are 10% less likely to go under offer. They are also on the market for more than double the time, before they go SSTC (Sold Subject To Contract).
  • After a period in which property prices have risen sharply, sellers can be overly optimistic in their expectations. Experienced and knowledgeable agents will price the property for the current market.
  • Latest research by Zoopla indicates that the average reduction on initial asking price at point of sale is 3.8%, although more than 40% of recent sellers have accepted offers of 5% or more below.
 
Source: #Dataloft, Rightmove, Zoopla

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