Properties sold for less than asking prices

Residential landlords who are looking to increase the size of their portfolios could be among those who are picking up properties from below the asking price.

Figures from independent estate agent haart have revealed that properties are regularly being sold for up to eight per cent below sellers asking prices.

The data follows the publication of a report from Rightmove which showed a renewed confidence in the housing market, with sellers increasing their expectations by 3.2 per cent this month.

According to the study, the average asking price for a UK property now stands at £222,398.

However, Russell Jervis, managing director at haart, said the confidence is being met with resistance from potential purchasers.

"The activity seen in branches across haart mirrors that of Rightmove, with applicant numbers increasing week on week

"However, there is a resistance from buyers to match the increased asking prices, as offers still come in at between 92 per cent and 95 per cent of the asking price."

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