According to a recent index by Rightmove, sellers Nationally are lowering asking prices in anticipation of the up and coming festive season, which is the busiest time of year for property searches.
National property prices fell by 1.7% in November (£-5,222), the largest drop since 2012, as the uncertainty of the impending Brexit continues to cause market insecurity.
However, sales agreed have increased with buyers recognising that sellers are pricing their properties for a sale.
Andrew Gilchrist commented: “ Sellers are starting to recognise the importance of offering value for money, and in return, buyers are reacting positively.
“Properties which are priced accurately at the start of the marketing process tend to be much more successful than those that have price alterations throughout the selling process.
He continued: “Despite the issues concerning a Brexit, buyers are fed up with putting their lives on hold so are continuing to buy regardlessly."
Despite a month of price adjustments asking prices for the first-time buyers and second-steppers remain higher than they were this time last year, up by 1.5%.
At Intercounty we have years of experience in valuing homes and we can ensure that if you sell with us that your property will have the highest chances of securing a sale. We base our price valuations on several factors, historical house price sales in an area, market forces and house price fluctuations across Herts and Essex. If you would like to get an accurate valuation of your home why not get in touch with your local branch of Intercounty.
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Source: 22/11/18 Rightmove https://www.rightmove.co.uk/news/articles/property-news/house-price-index-explained/