| Comment | A bit of anecdotal evidence, but that is absolutely happening where I live and I've seen plenty of properties reduced in price over the last 12 months.
More specifically, there's a house in my street that has been on the market for about 9 months. Now my street is fine, not the prettiest houses but within the catchment area for good schools, there's lots of first time buyers and houses sell within days and weeks at the latest.
This house has been on at a ludicrously inflated price and again anecdotal, but driven by what the seller wants to recoup for it, rather than what the Surveyor actually thinks its worth and it's the first time I've actually seen a property not sell because people realise they are being asked to pay way above what the properties worth. |
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