About 41% of sellers of real estate in the UK reduce the price of the original

Approximately 41% of sellers of property in the UK for the past 5 years has lowered the price relative to the estimated value in the sales process of their property, and every 12th the salesman went on a significant decline. However, in those regions where for the last 5 years there has been rapid growth in prices, these retailers a lot less. So, only 6% of the sellers of property in London has agreed to sell below their expectations. Few sellers concessions and in the southern regions of England. In contrast, in the Northern region Yorkshire and Humberside concessions to buyers went up 56% of sales. Much rather going to lower the prices are the sellers of real estate in England, where there is a lack of housing.

From the statistics given by the company Nottingham Building Society, we can draw two conclusions – first, the shortage of housing leads to falling prices on existing housing and losses of sellers, and second, companies that provide valuation services, do not have a realistic view of the market. The study provides recommendations for the evaluation of companies, it is better to focus on the interests of the sellers, especially if the sellers want to sell quickly and ready to go for a price reduction. This tactic will help to balance of the UK property market and ultimately will help it avoid stagnation.

Approximately 25% of sales for the past 5 years still didn’t finish the deal, meaning the imbalance of expectations of sellers and real market opportunities.

The study also shows that 27% of sellers sold their property at a price higher than expected.

® Alice Morgan. 24.11.2016 G.

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