Estate agents and sellers are listing properties at far higher prices than what homes are actually selling for, data from Rightmove and BestAgent has revealed. In March, the average asking price of new listings on Rightmove stood at £365,357. This can result in some trying their luck by listing with an overly ambitious asking price. At this point the asking price often becomes irrelevant: They're bidding against each other, not the asking price. Fear of missing out can then lead to offers quickly coming in over the asking price.

Source: Daily Mail June 09, 2023 13:47 UTC