Property selling prices edge closer to asking prices

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Rightmove research shows a narrowing of the average gap between last advertised asking price on site and sold price recorded with the Land Registry.

In December the discount stood at 3.39%. It has since narrowed to 2.95%. So what does this mean for buyers and sellers in the current market?

Rightmove director Miles Shipside:
“This indicates that sellers are negotiating less and buyers are willing or able to pay more” says. While the discount from the asking price on an individual property is very much a product of how realistic that price was, it is a sign of a recovering market if they are paying closer to what sellers ask.

"Obviously, we do not suggest that all buyers offer exactly 2.95% below the asking price or that all sellers adopt this as their maximum discount level, as the balance of power between buyers and sellers varies considerably across the many micro-markets of the UK.

"However, we do suggest that you seek the advice of an estate agent whose local market expertise can help you make an informed decision and help turn your property dreams for this year into reality”.

Read the full report here.

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