Prime price discounts widening, says Home Owners Alliance

The extent of the pain being endured at the top of the sales market has been revealed by research from the Home Owners Alliance (HOA). Properties are being sold for up to 14.5% less than their asking price in the prime market within England and Wales, the research suggests. Using its estateagent4me estate agent comparison tool, which tracks agents’ achieved prices versus asking prices, HOA says homes in the prime £2 million-plus price bracket are being sold for £296,000 or 14.5% less than their asking price. “There are significant reductions at the top end of the market,” says HOA Chief Executive Paula Higgins (pictured, left). Also, homes for sale in the £1.75 million to £2 million bracket are being sold at an average discount of £225,000, she says, while homes for sale between £1.5 million and £1.75 million are being sold at a £142,219 discount on average. Properties with an asking price of £1.25 million and £1.5 million are agreeing final offers for £92, 970 less, the research shows. HOA’s estateagent4me tool, which is available on its website, was built by Oxfordshire-based tech firm United Legal Services (ULS) which also has a stake in HOA. Home Owners Alliance Although used…