Both Sellers and Buyers are exercising caution.
January saw a surge of property come to the market. February has tightened as Vendors are paying a ‘wait & see’ policy.
Buyers, given some extreme generalisations about values in the national press are, understandably are also hedging.
However, almost in all cases sales are secured when the correct price is applied to the property. As mentioned in this blog more times than I can remember the actual price achieved is more often than not very close to the asking price itself.
This confirms our advice.
As an example;
If a property is worth £350,000 then ask £350,000.
In most cases you are likely to achieve £350,000 or very close to this figure. Should a figure be quoted higher than the value then an uplift of no more than say 2 or 3% should be applied.
Inflating values in this market makes no sense at all and is the incorrect strategy to securing that move.