Matt's Insights

Why the price reductions?

Are you seeing more price reductions?

In Droitwich Spa, Worcester and Malvern we are and yet values are still going up. The reductions you are seeing are not due to properties being worth less today than they were yesterday.

Price reductions happen when vendors and their agent are too aggressive in their original pricing. These adjustments are needed to attract the buyers that initially were put off.

If you are selling in the next month or so, listen to comparables. Your agent should give you strong evidence and examples. Don’t be drawn in by the highest figure as it can cost you more in the long run.

If you’re a developer or homeowner on the market currently, with limited interest being shown, then take the positive step to get more viewings, it’s not admitting defeat – it’s being proactive to find a buyer.

Rates are going to rise further, which will affect affordability for some. The best buyers are looking right now.

We’re happy to assist if you need us in any way.

Nicol & Co