77% of homes sold under the asking price

In May 77% of properties sold were below the asking price, data from the National Association of Estate Agents shows.

Just 3% of sold properties exceeded the asking price, as the subdued market paused for breath before the General Election on 8 June.

Mark Hayward, chief executive, NAEA Propertymark, said: “As a rule of thumb, periods of political uncertainty impact the way buyers and sellers interact with the housing market.

“In May, it looks like new buyers were stalling their house search until after the election; however the number of sales agreed per branch increased meaning the political landscape hasn’t deterred all house hunters.

“Following the result of the general election, it will be interesting to see how the market reacts over the coming months as summer is peak house-moving season.”

Demand is down, as the number of house hunters registering per estate agency branch fell by 8% in May to 350, down from 381 in April.

However demand is still 15% higher than May last year.

Earn £2000+ a month part-time – Work once earn forever

Mortgages – Find cheapest rates from 0.98%

mortgageMortgages - Find cheapest. Rates from 0.98%. 1st time buyers, remortgages, self-employed, adverse & CCJ, Landlord buy to let. Compare now

mortgageSell or Let Property FREE on Houseladder 0% no fees. Free property advertising. List 1 to 1000 properties to millions of buyers and tenants. Upgrade to a Premium advert for only £30 and sell or let your property FASTER! Create Ad

make-moneyMake Money - Earn £250 to £2000+ per month part time. Get paid every month for work you do once. Work from home. Flexible hours. Free training. No experience needed. Major UK PLC company. Find out how >>

taxHow To Save Property Tax - Updated Sept 2017 “How To Save Property Tax” is widely regarded as THE tax bible for property investors. The 21st edition has just been published (Sept 2017) and is completely up to date. Read now


Written by: Houseladder