In a recent survey conducted by Yorkshire Bank, it was found that 20% of people selling their houses would rather have a quicker sale at a lower price than hold out longer for a higher price.
First time buyers also seem to be aware of their desirability, with 40% offering well under the asking price for properties, knowing that a quick sale could be achieved.
Our view
The housing market is fairly static at the moment with many people believing property to be overpriced and facing a fall.
In this type of market, buyers prevail and lower offers are increasingly being accepted in order for a quick sale. Many vendors have a property to move to in mind and do not want to jeopardise their new home for the sake of a few thousand.