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When you have had your property on the market for a while, many sellers eventually face the same difficult decision: whether their asking price needs adjusting to reignite buyer interest.
The latest figures from the Office for National Statistics (ONS) suggest something rather unexpected. After years of worsening affordability, the picture has begun to improve. Wages have risen faster than house prices since 2021, nudging the headline affordability ratios in the right direction. On the face of it, that feels like progress.
It’s been a few weeks (maybe longer), and the buzz has faded. Viewings are few and far between. Updates are sparse. And your agent’s enthusiasm? Nowhere to be seen.
Over the last few weeks, there has been a growing narrative in the national press suggesting that the housing ladder is becoming increasingly difficult to climb. Much of this centres around the widening gap between smaller and larger homes, with many commentators suggesting that homeowners are becoming “stuck” and unable to move up.
