Blog Post

Realistic pricing for market conditions is essential

TomS - Head Tom Simper Jun 14, 2023, 13:00 PM

More than 75% of agents state that properties are selling at a reduction on the initial asking price according to the latest poll of Dataloft Inform subscribers.

With property price growth softening, realistic pricing is paramount to sales success, with many vendors seemingly overly optimistic in current market conditions. Rightmove reported the average asking price of a newly listed property rose by 1.8% between April and May.

More than 50% of agents state that properties are, on average, selling with a price reduction of up to 5% on the initial purchase price, while 23% indicate reductions are more substantial.

Back in November, half of all agents stated properties were selling at asking price, compared to February 2022 where many were selling above asking price. Source: #Dataloft Poll of Inform subscribers.

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