Property asking prices in Diss down by more than £10,000

Over the past 12 months, homeowners in Diss have reduced their asking prices by more than £10,000, according to new figures.

Looking at 17 home sales in the IP21 postcode, data has revealed that homeowners dropped their prices by an average of £13,882 to secure a sale – 3.36 per cent lower than their initial asking price in the 12 months leading up to August 2021.

And looking at another 29 property sales over the same period in the IP22 postcode, figures revealed that home sellers had reduced their properties by an average of £10,365 – 2.72 per cent – to get the sale going.

The data, compiled by property firm Property Solvers, looked at the monthly updated asking prices of homes on Rightmove, and compared them with their sold prices lodged at the HM Land Registry.

Ruban Selvanayagam, from Property Solvers, said: “Homebuyers are still, by and large, able to negotiate down on prices.

“There’s evidence of surveyors down valuing properties that are misaligned with the realities, meaning they end up selling for lower than the original estimation.”