According to a new report by s1Homes, home buyers are continuing to offer much less than the asking price of property in an attempt to bag a bargain – this is despite more and more sellers already dropping their asking price.
The quarterly s1Homes Scottish house price report has indicated that the average property in the 3 months until December actually sold for £9,000 less than the price it was on the market for.
The average asking price continued to fall, this time down 3.33% to £166,494, but in the same period the average selling price also dropped from £163,068 down to £157,174 – over £9,000 less than average asking price.
”It would appear that while sellers are being less optimistic about the prices they can achieve, buyers are still able to come in with offers under the asking price in these market conditions.” Mark Smith, managing director of s1homes