Sellers becoming competitive for sales

23 2008
After many calls for homeowners to become more realistic in their asking prices, a Sky News report has found that some are now competing amongst each other to sell property as fast as possible.

The report this week highlighted some drastic action people have taken in order to sell their homes, including one owner who set his asking price £45,000 below that suggested by his estate agent.

The homeowner, Mr Paul, was advised to put his three-bedroom home on the market for £625,000 but instead entered it at just £579.950.

"If your house is priced right and comparable houses aren't, then yours will sell first," he said in an interview with Sky News.

But the 7.2 per cent discount hasn't done much to shift the property.

"The market is there, and I've had more than a dozen viewings through one agent alone. But people are nervous and cautious at the moment," he added.

Many would-be first-time buyers are now looking to rent instead of buy property as the market continues on its downward trend.

Certainly, the smaller financial commitment required to obtain a rental property could prove attractive in these times of economic gloom.ADNFCR-1219-ID-18841769-ADNFCR

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