Last week, we wrote about how home sellers are aligning their expectations to the prevalent price-sensitive buyer environment. The downward trend in prices forced by a slowing property market appears to have come full circle, with over four in ten London home sellers adjusting prices lower and the average price cut coming in at 6.7%.
Our estate agents London also report waning interest among buyers, another reason to consider a downward revision in your home price if you wish to take it off the market quickly. The last time this trend permeated the London real estate market was back in 2010. Also factor in higher borrowing costs and a fall in consumer spending, which is reminiscent of 2013’s spending lows.
Whether you have properties for sale in Soho or outside London, note that nearly 37% of sellers across the country are slashing their asking price. The average price for new properties has fallen month-on-month while price growth has also weakened over last month.
Sell your London home?
This winter looks a bit dreary for London home sellers, even for those in prestigious postcodes. With both prices and activity waning, it is best to collaborate closely with a real estate agent London to find buyers without prolonged delay.
Estate agent in London
If you would like to speak with a London Estate Agent please call a member of the Greater London Properties Team who would be delighted to help. We specialize in Residential Sales and Lettings plus Commercial Offices and Retail. Our branches are based in our Soho and Bloomsbury the team are always on hand to discuss property in Central London.
Call Greater London Properties, Estate Agent London today on 0207 113 1066.