Thousands of sellers have re-listed their homes for sale in the new year, offering buyers the chance to secure an asking price discount, according to research by Yopa.
Yopa analysed data on the number of homes that returned to the market across Britain, having previously failed to find a buyer in 2023.
The average price of these homes was compared with the wider average price of homes that remained listed for sale.
The data showed 2,019 properties that returned to the market across Britain, having previously failed to sell.
The largest proportion of returning homes were located in the South East of England, which boasted 21% of the national total.
London and the East of England each had 13% of Britain’s returning homes, followed by the North West (9%), East Midlands (8%), West Midlands (8%), and Yorkshire & Humber (7%).
The average price of those properties to have re-entered the market was £362,244.
Compared with the overall average British house price of £370,730, this was a discount of £8,486, or 2.3%.
In Scotland, homes returning to the market were priced 4% below the wider regional average price, a saving of £8,010.
In London the discount was 3.9%, followed by the East Midlands (3.7%), South West (2.7%), and North East (2%).
Verona Frankish, CEO of Yopa, said: “There will have been lots of motivated sellers entering the market towards the back end of 2023, sellers who would have been hopeful of securing a sale before the Christmas break as market conditions started to improve.
“However, not all of them will have managed to do so and whether it was due to a transaction collapsing, or simply to reset ahead of the January rush, many will have decided to pull their property listing and re-enter the market come the new year.
“Now that 2024 is upon us, these sellers will be hoping to take advantage of strengthening market conditions and an uplift in buyer activity, but having already listed their home for sale once, many are likely to be offering a discount on their asking price in order to entice buyers to make an offer.”
