Asking price growth slows to lowest rate in four years as housing market cools

Are you in the market to buy or sell your Bromley home? Asking price growth has slowed to 2.3pc, the lowest since April of 2013. According to RightMove, many sellers are more willing to walk away from properties that are overpriced. Whilst Which? found that 1 in 5 homes in the UK are overvalued.

Use this information to make sure your property is priced to move in this changing market. London is a particularly delicate market with 28% of the properties already being discounted. The market in Fulham is especially price sensitive according to a realtor there.

Fewer transactions are expected this year so make sure you gather all the information available to you to ensure you are positioned well if planning to buy or sell in 2017.

Key Takeaways:

  • The growth in house prices has slowed to the lowest rate in almost four years as sellers were warned against overpricing their properties.
  • One in five properties in England and Wales are overvalued, and have been heavily reduced by more than 5% from their original asking price.
  • The situation is particularly delicate in London, where 28% of properties were discounted.

Key Quote:

"The growth in house prices has slowed to the lowest rate in almost four years as sellers were warned against overpricing their properties."

Read the full article:

http://www.telegraph.co.uk/property/house-prices/asking-price-growth-slows-lowest-rate-almost-four-years-housing/

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