Swindon sellers hold out for asking price
THE majority of people selling their home in Swindon are holding out for the asking price according to a new survey by Zoopla.
Swindon has the second lowest asking price percentage reduction, coming behind Edinburgh, with sellers that do enter negotiations only dropping the price by five per cent.
The report shows that the house sellers nationally who have slashed money off their original asking price is at a record low for the summer months as confidence flows back into the market.
Less than one-third of sellers whose homes are currently on the market were found to have reduced their asking price, marking the lowest proportion it has seen for the summer quarter since the website's records began three years ago.
Zoopla said its latest findings are a further indication that sellers are becoming more confident about standing firm to get what they want.
This time last year, 37 per cent of house sellers had shaved money off their asking price to attract a buyer.
In Swindon, 32.9 per cent of sellers have reduced the price by an average of 5.3 per cent, which equates to £10,665.
In Edinburgh, which tops the list of the lowest asking price percentage reductions, 27.7 per cent of sellers dropped the price by 5.3 per cent, which works out at £14,722 of the asking price.
Demand from buyers has been gathering pace in recent months amid Government efforts to breathe new life into the market and a general lack of homes on the market for buyers to choose from.
Housing market activity has generally seen more of a buzz since the Government launched a scheme called Funding for Lending, which has widened mortgage availability.
The Council of Mortgage Lenders reported that business was at its strongest levels in the month of July since 2008.
Areas with the lowest asking price percentage reductions, with the amount also in cash terms and the percentage of homes on the market which have been reduced
- Edinburgh: 5.3 per cent (£14,722) by 27.7 per cent of sellers
- Swindon: 5.3 per cent (£10,665) by 32.9 per cent of sellers
- Ipswich: 5.4 per cent (£13,677) by 37.7 per cent of sellers
- Wolverhampton: 5.4 per cent (£12,064) by 29 per cent of sellers
- Milton Keynes: 5.5 per cent (£14,935) by 30 per cent of sellers
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