Although an end-of-year slump is normal, vendors traditionally set lower prices in an attempt to get their homes sold before the New Year. However, the overall the price drop over the course of this month is the largest since 2012.
Giving purchasers, in what is already a buyers market, even more negotiating power!
According to Rightmove, with 9% fewer new sellers coming to market compared to the same period a year ago, it appears that those who are less willing to price down are staying off the market, perhaps until there is more Brexit certainty or prices recover. Meanwhile those who are taking the plunge are recognising that they need to realistically price and be open to offers in order to achieve a sale.← Back to insights