Properties which are put on the market for a fair price are more likely to experience less problems than those which are not, it is believed.
Homebuyers are looking for the property with the best price, said Nigel Ellis, a director at Prickett & Ellis, who encouraged people to be realistic with their pricing strategies.
He said there is unlikely to be resurgence in gazumping, although buyers and sellers need to be aware of the processes involved in house purchase.
"There is no agreement to buy until everyone has done all the legal work and that leaves a property available for someone else to come along and bid higher on," Mr Ellis warned.
Hometrack reported on June 1st that the average property cost £155,600 in May, suggesting that prices have fallen by 9.6 per cent in the past year.
Sellers achieved an average of 90.3 per cent of their asking price in May, compared to 89.6 per cent in April, the figures revealed.
See Also: Property News (6705)
Date Published: 05 June 2009
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