Asking prices for homes in the UK have increased at the fastest rate in 20 years.
Rightmove has shared data that found sellers are overpricing their homes by as much as 21%.
Managing Director of HBB Solutions, Chris Hodgkinson, said: “British homebuyers have swamped the market and those looking to sell are benefiting from some record levels of house price growth in current conditions,”
“Despite this, we’re still seeing quite a notable gap between the price a home is listed at and the price that buyers are ultimately willing to pay,”
“This is a pretty normal occurrence in any market and sellers will always list high in anticipation of the negotiation process, while buyers will naturally try to get the best price they can.”
“However, there’s certainly an additional layer to current market conditions in the sense that home sellers have been benefiting from a boost to buyer budgets as a result of a stamp duty saving and this has seen them achieve that little bit extra than they may have otherwise.”