Are You Happy To Negotiate On Price?

Wed 03 Nov 2021

When it comes to selling your Huddersfield home, there is a lot to focus on. Obviously, you want to achieve the best possible price, but it is vital you find the selling point that allows you to move on and still allows you to connect with buyers.

This is something we are happy to assist with at ADM Residential. We see this in our dealings with local buyers and vendors, and it arises in national studies which we follow.

A recent poll looked into whether people are willing to negotiate on house prices:

• 64% of UK homebuyers and renters say they feel confident negotiating over property prices

• 60% of respondents are concerned about timing, and knowing when they should negotiate

• 36% say they avoid negotiating due to anxiety issues

• 61% of vendors and landlords believe negotiations to be an integral part of the process

• 70% of prospective buyers are concerned about losing out on the property they wish to buy, or finding they have been outbid by another buyer

You can see why many buyers are unwilling to negotiate with the market being as competitive as it is.

The same study highlighted key points such as:

• Property searches have risen by 55% compared to this time in 2020

• Demand for property significantly outstrips supply in many areas of the county

• Asking prices have reached a significant high, increasing by 5.1% compared to this time in 2020

Are you willing to negotiate on price?

3 tips to keep in mind if you are looking to negotiate

• You should always use a trusted estate agent, with local knowledge and expertise

• You need to research the area; it has been found that 11% of prospective buyers don’t research an area before making an offer

• Make it clear you are a serious buyer

James Redington, is a known-name in the UK property market, and he said; “Whether you're a first-time buyer or an experienced property owner, buying a house is a big deal, especially if you're not sure of how or when to negotiate on the price. Of course, buyers are keen on potential savings, but demand is so high right now that sellers have the luxury of not having to lower costs. That doesn't mean your dream home is unattainable, though. Suppose you have your heart set on a house. In that case, experienced agents can help you increase the chances of your offer being taken seriously by sellers.”

You must be informed of the local market

Whether you are buying or selling, you must be informed about the local market you are interested in.

According to Rightmove, house prices in Huddersfield as of November 2021 stands at;

“Properties in Huddersfield had an overall average price of £203,106 over the last year.

The majority of sales in Huddersfield during the last year were terraced properties, selling for an average price of £137,019. Semi-detached properties sold for an average of £180,720, with detached properties fetching £355,374.

Overall, sold prices in Huddersfield over the last year were 15% up on the previous year and 20% up on the 2018 peak of £169,242.”

If you are selling your Huddersfield home, contact us today. You can book a valuation or just chat about how we make a difference in selling your home. Of all the estate agents Huddersfield vendors can call on, we like to think we make a difference in selling local homes, so contact ADM Residential today.