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Rural Home Sellers Seeing Cash Strapped Buyers

A recent study by Hamptons, using data provided by Countrywide, indicates close to half of the homes selling in the UK right now are doing so below the asking price. Worryingly, it appears as though country properties are the most affected by this situation.

There are many reasons why the housing market is moving like this, and of course, there are reasons why buyers are moving back to cities and towns from the countryside.

In October 2022, the number of properties selling below the asking price stood at 47%. In September of this year, this figure was at 40%, so there has been an increase in the past month. The increase since April 2022 stands at 15%, indicating the movement in the market.

For country properties, the average home sold in 2022 achieved 98.6% of its asking price. This is a fall from the 99.9% in 2021. Therefore, this is a drop of 1.3%, which might not sound like a lot, but it is the largest drop of all property types.

There has been an increase in rural property owners selling their home, which creates further competition in the marketplace. If you are looking to stand out from the crowd for all the right reasons, it is best to call on the experts for help.

If you are a rural homeowner, and you wish to sell your home for the best possible price, even in these challenging times, please consider the following steps:

Use a reputable estate agent

When selling your home, it is important to use a reputable estate agent. An experienced agent will be able to give you an accurate valuation of your property and market it effectively to potential buyers. They will also be able to negotiate on your behalf and help you to get the best possible price for your home.

Prepare your home for sale

Before putting your home on the market, it is important to make sure that it is in good condition. This means repairing any damage, such as cracks in the walls or leaks in the roof, and giving it a fresh coat of paint. You should also declutter your home and make sure that all rooms are clean and tidy. By doing this, you will make your home more appealing to buyers and increase its chances of selling quickly.

Set a realistic asking price

When setting an asking price for your home, it is important to be realistic. If you set your price too high, you may find it difficult to sell your property. On the other hand, if you set your price too low, you may end up losing money on the sale. The best way to determine a realistic asking price is to compare your home with similar properties that have recently sold in your area.

Advertise your property online

In today’s market, it is essential to advertise your property online. This will give you the greatest exposure to potential buyers and increase the chances of selling your home quickly. There are a number of websites that allow you to list your property for free, so be sure to take advantage of this opportunity.

Contact Prestige & Village for all your property market needs in 2022

At Prestige & Village, we care about our community, and supporting others. We aim to provide you with as much help and assistance as we can. If you have any property or housing questions, please feel free to contact us today.

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