Home sellers are overpricing their properties

Seven in 10 estate agents say home sellers are being unrealistic about what their properties are worth, according to estate agent membership body, Propertymark. Agents say sellers are overvaluing their homes, either because they think they have the best house on the street, or because they want to sell at a price which will enable their next move. Propertymark's latest figures show the number of prospective homebuyers registering with agents fell from 2.5 per available property in December 2021, to 1.4 per property in December 2022 - a 45% decline year-on-year. The average number of viewings per property fell by 71% between April and December 2022. Nathan Emerson, chief executive of Propertymark said: "The largest shift we have seen in the sales market is prices agreed, compared to normal asking prices. The year 2022 started as a seller's market, and ended the year back to normality as a buyer's market." 

Daily Mail (30/01/2023)