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Four-fifths of properties are now sold below asking price

26th October 2018

With property prices stabilising across the UK and falling in London, what steps can you take to ensure you get a good price if you’re planning to sell your home?

With four-fifths of properties now sold below asking price1, experts agree that being realistic about price can be key to getting a sale. Over-pricing can lead to low levels of interest in your property, whereas offering your home for sale at a realistic figure is likely to entice more potential buyers and can lead to an increase in the amount offered. If several buyers are really keen, they may be prepared to put in bids over the asking price to secure their purchase.

Creating the right image

Before getting those all-important photographs taken, it really pays to have a good declutter and a thorough clean. It’s particularly important that bathrooms and kitchens look pristine and tidy. Grubby worktops, baths and taps that have seen better days, can be very off-putting to potential buyers.

Simple steps like making sure the property is well-aired, last night’s cooking smells aren’t lingering and there’s no washing-up sitting in the sink will all help to create the right atmosphere.

Light rooms are a big attraction, so if you have small rooms that are painted in dark colours, it might be worth giving them a makeover in more neutral shades that won’t put off viewers.

Outside spaces

Kerb appeal is as important as the experts claim. Many prospective buyers tour the neighbourhood before arranging a viewing, so making sure that the front of your house is presentable, especially the area around the front door, really can help your property get noticed.

Gardens can be an attractive feature for growing families, so making sure that you include pictures of your outside space in your sales particulars is important. Keeping lawns cut, flowerbeds tidy and children’s toys neatly stowed away will all help ensure you create the right impression.

Of course, some buyers are looking for a property they can renovate, so may not be deterred by a lack of aesthetic appeal.

1NAEA Propertymark, March 2018