Landlords, Don’t Overprice: It’s a Trap!
- Sarah Ruivivar
- Sep 1
- 2 min read
If you’re thinking of selling up, Zoopla has a nugget of wisdom for you: don’t get greedy with your asking price!
The housing market is currently a buyer’s paradise, with more sales but also more choices for those eager to snap up a new home.
The latest data shows that while house price growth has slowed, the market is stabilising. With average UK house prices up by 1.3% over the last year, it’s clear that buyers have the upper hand, especially in the southern regions where affordability is a bit of a sticky wicket.
Now, here’s the kicker: recent chatter about potential tax changes, like replacing stamp duty with an annual property tax for homes over £500,000, has buyers playing the waiting game. This uncertainty could lead to a rollercoaster ride in the coming weeks, so buckle up!
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In the northern regions, homes are flying off the shelves faster than you can say “sold,” thanks to better affordability and fewer homes on the market. Meanwhile, southern England is seeing longer sales times, with homes lingering for an average of 39 days before a sale is agreed.
The moral of the story? Price your property wisely! Homes that need a price cut take 2.4 times longer to sell. So, if you want to avoid being stuck with a “For Sale” sign that’s gathering cobwebs, a realistic asking price is your best friend.
Remember, the market is a fickle beast, but with the right strategy, you can ride the wave to a successful sale.
Want to hear more? Join Mal & Matt on the Property AI Report Podcast each week!
Access from your preferred podcast provider by clicking here
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