Save 10% on house prices
Buyers can save 10% on house prices
Wednesday, 09, Nov 2005 08:17
Savvy buyers can save as much as ten per cent on the asking price of a house, according to new figures.
Home buying service The County Homesearch Company reveals that its agents, acting on behalf of buyers, have been receiving this level of discount on properties across the country.
"There has been a significant change in pattern from the start of the year. House prices across the country are showing near zero growth and our home searchers are generally being able to negotiate discounts from the asking price," said County Homesearch managing director Jonathan Haward.
But with the stagnant market and discounts available, buyers are becoming overly confident.
Buyers have become pickier when it comes to the homes available to them, and while the market has shifted in their favour, complacency means over-ambitious buyers are still losing out when it comes to securing their dream home.
"There is still a shortage of good homes for sale as sellers have sat tight and as a result our clients have become more choosy and think they have the luxury of more time to make a decision," Mr Haward explained.
"As a result good houses costing in excess of £500,000 that have been realistically priced are snapped up more quickly than in the mass market."
The County Homesearch quarterly survey reveals that house prices have risen by around one and two per cent across the UK, with small falls in the value of properties in Norfolk, Suffolk, Essex and Surrey.
But well priced homes are changing hands rapidly in all regions except East Anglia.
County Homesearch's Richard Walters, commenting on the market in the south-west, noted: "Clients are much more choosy and think they have more time to make decisions - but regretfully that is not always the case."
But with properties taking 12 days longer to sell on average than at the same time last year, there are still deals to be done if you know where to look.
Douglas Fensome, speaking about the Bedfordshire, Hertfordshire and Cambridgeshire markets, explained: "We are now seeing vendors reducing asking prices on properties which came onto the market earlier this year. Reductions are in the region of five to ten per cent of the asking price. Offers are then being accepted in the region of five per cent less than asking price."
And Romie Walton, commenting on properties in the north-west, added: "Good houses are still moving fast. Those with flaws are open to offers and will take longer to sell."
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