Why are UK property sellers not reducing their price?



This is one of the phenomenons of recent times, the fact that UK property sellers are not reducing the price even when approached by potential buyers. This would indicate future faith and strength in the UK property market even in these challenging times. However, is that really all that is behind this unexpected strength?

There are two other factors we need to take into consideration:-
  • Fewer properties for sale
  • Lower mortgage rates
It will be interesting to see how the UK property market reacts post-January 2021 when the £1000 furlough related payment per employee is released.