Realistic pricing for market conditions is essential
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