Sellers are having to be much more realistic about pricing if they want to transact in this market – LonRes

14 March 2023

Prime Resi

The housing market took a well-publicised turn following last year’s mini-Budget turmoil, and it seems vendors have been getting the message.

According to LonRes, the average discount to asking prices across the prime postcodes widened to -8.4% in February, a marked shift from the -4.7% recorded in July last year.

Last month’s average discount remains some way off the -12.8% seen in early 2019, but the movement “really highlights how pricing reality has changed relative to expectations over the last few months”, said the firm.

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