The large majority of homes sold in May failed to make the asking price.
Members of the National Association of Estate Agents were asked about sold prices as part of a national study. 81% reported that achieved prices were below the listed price, indicating a cooling market.
Research also showed that although there was an increase in the amount of applicants registering, this was still 13% down on the same time last year.
The average number of properties listed by each branch was also up, at 41.
What Do Certain Property Experts Say?
“This could help to balance the market – an increased supply and a manageable increase in buyers could see the market become busy, without overheating.” Says Jonathan Rolande, director of professional property buyer, House Buy Fast.
But watch this space.
The bounce may be attributable to good late Easter weather and a shift of focus away from Brexit during the leadership elections.
“I suspect we’ll see the Brexit effect biting again in September as we once again approach the date for leaving and head into the unknown.” Says Jonathan.