Rightmove boss Miles Shipside has revealed that the average asking price for a home on the property portal is £230,000 whereas according to the Land Registry House Price Index the average completed sale price is just under £165,000.
Mr Shipside makes some interesting observations but the underlying suggestion is that many sellers are asking or being advised to ask too much money for their properties. Rightmove are well placed to make accurate analysis as the site is the 8th most visited UK website according to Hitwise in January 2011 and is by some distance the market leading property portal. It is reported that only 43% of sellers found a buyer last year and it has been suggested that figure could be even lower this year.
Peter Keylock, Managing Director at Jeffries, believes that despite these staggering statistics it is not bad news for the serious seller.
“We take our responsibilities of being the area’s leading Estate Agency very seriously. We are aware that our vendors want to sell at a fair price but we are also aware that they want to sell! Likewise buyers tend to make us their first choice as our properties are sensibly priced. Some sellers are being very poorly advised into asking inflated asking prices in a challenging and price sensitive market. This advice can have a damaging effect on the sellers chances of selling. Our valuers offer considered and well researched advice and all have a significant if not unrivalled amount of experience in their respective marketplaces – they value properties at prices that will sell.”
Accordingly Jeffries Estate Agents have consistently sold a bigger percentage of homes than its competitors. For any advice on selling your home contact your local branch.