An analysis of homes that have returned to the market after failing to find a buyer in 2023 suggests that sellers have cut their asking prices.
The data shows that there are currently 2,019 properties that have returned to the market across Britain, having previously failed to sell.
The largest proportion of returning homes are located in the South East of England which currently boasts 21 per cent of the national total. London and the East of England each have 13 per cent of returning homes, followed by the North West, East Midlands, West Midlands, and Yorkshire & Humber.
The analysis shows that the average price of properties re-entering the market has a discount of £8,486, or 2.3 per cent.
There are bigger discounts available on a regional level. In Scotland, it is 4.0 per cent; in London 3.9 per cent; followed by the East Midlands down 3.7 per cent; South West down 2.7 per cent; and North East down 2.0 per cent.
A spokesperson for Yopa, which undertook the analysis, says: “There will have been lots of motivated sellers entering the market towards the back end of 2023, sellers who would have been hopeful of securing a sale before the Christmas break as market conditions started to improve. However, not all of them will have managed to do so and whether it was due to a transaction collapsing, or simply to reset ahead of the January rush, many will have decided to pull their property listing and re-enter the market come the new year.”
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This is NOT a surprise 🤷♂️💵
They will have to be give away cheap for investors to be buying now
By April all low end properties will be back up. Mortgage will be cheaper than rent.
Homes are not for investment, they're for people to live in. Shame on anyone who sees this as an opportunity for personal gain whilst people die in the streets.
Do stop going on about people dying in the streets you hysterical moron. Property is an investment and my two flat belong to ME. For my tenants they are lovely homes or them to live in. MY money bought the properties, not theirs. Perhaps you should try getting off you rear end and WORKING for a living. Your life might then improve.
A shame you have not been banned because your diatribes contribute absolutely NOTHING to the debates, just like you contribute nothing to society.
Rant over - JT just pushed my buttons once too often today!
If they got a job and paid their way in life there would be no need for them to die in the streets
So the fact and it is a fact that we are putting roofs over peoples heads means using your vernacular we are saving lives……
And thank you very much
Go and buy one property and live in then. See how hard it is.
If all investment landlords did not invest in property and invested their money in other areas instead, there would be hardly any homes to rent. How would that help the people dying in the streets?
So homes should be supplied free of charge to every workshy scrounging bum out there then James?
Jams Turner, comrade you can apply that argument to everything. Think about it, Farmers grow food for their own enrichment or income, yet we all need to eat, etc.
Profit is such an ugly word to those incapable of making a profit
This country is declining towards a lazy non innovative, benefit seeking and do nothing, lose nothing time.
A very risky approach.
Our health and safety laws, our regulations, our system of suppressing and penalising those who try to.work hard or progress is going to slide us into a third world country.
You're talikig about James Turner again! LOL
And when this happens, who is going to be left to pay for all the services, pensions, welfare payments et al?
Greensted close
What do you mean going to ? It's hidden behind euphemisms such as inner vinyl areas ! People did not go back to work in mining areas.after the strikes, and the euphemism for It is NEET ! Some areas in Britain look like a third world country.
It is certainly getting like that here in Wales, where business is shunned and there is no incentive to work.
Of course, the Communist inspired government we have here is happy with the situation, as its voters come from this category.
the WAG strategy is to ask for more money from Westminster, whilst blaming them for all the failed policies that have been devolved.
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