Good property 'sells close to asking price'

08-Oct-2008

First-time buyers (FTBs) stepping on to the first rung of the property ladder have been told to expect to pay close to the asking price for a "good property".

New stock coming on to the market is "realistically priced", states Gareth Samples, sales director at Your Move.

This could mean that FTBs will not find they have much room to bargain when it come to buying their first home.

Mr Samples explains: "There are a lower number of buyers so a good property at the right price will still create interest and will still sell for close to asking price."

He also points out that someone who needs a fast sale will discount far quicker in the current climate.

According to figures from the Royal Institution of Chartered Surveyors, last month the average house was selling for nine per cent below the asking price.

The widest gap between asking and selling prices was in the north (12.5 per cent), while there was an 8.5 per cent gap in London and a 2.4 per cent gap in Scotland.

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