Mind the Gap!
High costs of borrowing mean buyers are being cautious, one of the reasons why seven in ten agents are saying that it is now a buyer's market.
Buyers with a reluctance to overstretch are coming up against optimistic sellers, resulting in a growing disconnect between buyer and seller expectations.
Recent analysis shows the market gap between the asking price expectations of a seller and the approved price of a buyer increased to 35.6%, 1.5% higher than the previous quarter.
Given the price sensitivity of the market, understanding local market dynamics and pricing realistically are crucial to successfully securing a sale. Source: #Dataloft Poll of Subscribers, Benham and Reeves