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Graham Awards


Canny landlords can expand portfolios with £22k average price cuts

Landlords keen to bag a bargain will be interested to know that over a third of homes now on sale have had their asking price reduced.

Rightmove says 36.3 per cent of properties currently for sale have had a price reduction, with an average reduction equating to £22,700 nationally or 6.2 per cent.

In a month of subdued housing market activity, the average asking price of newly marketed properties has actually increased a little to £366,281 - that’s up 0.4 per cent. 


This is smaller than the average September rise of 0.6 per cent recorded in the same period over the past 10 years.

The portal says that while some sellers are clearly being too optimistic on their pricing, it does appear that others are listening to their agents’ advice to price correctly from the outset. 

“As expected, the annual rate of change has continued its downwards trajectory, which means that prices are still on track to meet our prediction of a 2.0 per cent fall over the year as a whole” explains Rightmove.


“It’s been a slower than usual August, so all eyes will be on market activity over the next few weeks, which will set the trend for the rest of the year” explains Tim Bannister of Rightmove.

“The combination of 14 consecutive Bank of England interest rate rises and many buyers and sellers still catching up on lost pandemic holidays has contributed to a bigger than expected summer lull, though we still anticipate an autumn bounce. 

“Market conditions still vary considerably in different locations, and so a local estate agent will be best placed to advise sellers to give them the best chance of finding a buyer this autumn.” 

He says August was quieter than usual for new sellers, with the number of new properties coming up for sale being six per cent lower than the 10 year average. 

Buyer enquiries remained stable, down just one per cent on 2019, but the economic conditions, holiday distractions and reduction in fresh stock contributed to the number of sales agreed falling further, going from being 15 per cent down on 2019 in July, to being 18 per cent down in August.

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  • icon

    The big test is this month’s possible base rate rise 😱 that could be the old straw that “did in “ the camel’s 🐫 back

  • icon

    It's not the property price that matters if you are getting a mortgage, its the monthly interest payment compared to the rent.

  • icon

    "Landlords keen to bag a bargain".... Yeah, there will be loads of them... All keen to throw their hard earned money into an investment and then lose control of it to clueless morons. In Scotland, I'm unable to sell one of my properties right now due to being knocked back on technicalities 3 times now by the First Tier Tribunal crowd in Glasgow... Would I buy another rental property?... Not a chance!!! Even if it was half price!

  • Peter  Yednell

    I urge all landlords to write to their MPs to point out most landlords are small landlords who naturally want the right to let their property for a fixed peroid. So called "no fault evictions" don't exist. Section 21 evictions are where tenants have refused to leave at the end of the tenancy.
    However sensible reform should be embraced by landlords. Instead of abolishing Section 21, periodic tenancies should become roll over tenancies unless a Section 21 is served by the Landlord and enforced. Serving a section 21 and not enforcing would create a roll over tenancy on expiry of the Section 21. We landlords know that abolishing Section 22 will lead to a tsunami of landlords leaving the PRS at a time of rising demand. This happened before, after WW2, when fixed tenancies were abolished. However, that disaster was hidden by massive new council housing provision for all ( such housing not just for benefit claimants). Such massive building of council homes is not going to happen now even under a new Labour government. Please write to your MP to suggest England adopts the French policy of all new fixed term tenancies being three years with tenants able to leave after six months, such contracts roll over rather than periodic. Don't just gripe here. Please write now!


    With respect Peter, galvanising MP's support now is at least 2 years too late.
    The RRB is happening & S21 is being abolished. Period.
    I continue to make the comment regularly that those who sell, unless retired & rightly spoiling themselves, will rue the day. There is a blatantly obvious reason corporates and financial institutions are piling in to the sector.
    The RRB holds no fears to me and the panic on here is too often way over the top.
    I am highly selective in my choice of tenant, pinpoint compliant and offer continuously upgraded property, achieving top rents. Yes, sub standard and non-compliance will be punished heavily and rightly so. There is far too much lazy non-compliance so just make sure you know your stuff.
    The big difference that's coming is the need for far superior landlord knowledge than currently exists. For example, there are 33 proposed grounds for possession for section 8 in the Renters Reform Bill. Not sure many landlords would know half of them. Test yoursleves....no googling!


    True John but we are still reliant on a left wing judge with sec 8, and I don't trust them in fact it's fair to say that I have zero respect or trust in the courts

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    I would love to be buying more and the money's sitting there to do so but at present I do think it would be a foolish move to do so

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    John Thompson you are off the scales what kind of idiots do you take is for. Although of Course there’s a reason for Big Companies and Institutions pilling-in, Its for them to take over our Business, clear the
    decks give them a clear run with no opposition of competition. People selling up is not voluntary but enforced sale by the RENTERS REFORM CORRUPTION BILL.
    You have some brass neck to try and tell people that has been driven to distraction that they have nothing to fear from THE RENTERS REFORM CORRUPTION BILL that has been forced out, when you sell its terminal and no way back and they have what they want rid of you for good, no wonder it’s the only option they left you is to get out but of course its no option. How do you expect to get away with a stroke like that, it’s only if they scrap it we have nothing to fear..

  • icon

    Stuff your 33 ways to evict or 57 different varieties.
    An eviction is an eviction one way you leave turn the lock in the door.

  • icon

    Oh dear now I had to switch the TV of immediately Khan is on there getting air time.
    He’s has cost me £20k to change my perfectly good eClass Est car in immaculate condition with at least any 10 years life in it for another second hand car eClass no better some rubbish just add blue.

  • Fed Up Landlord

    "33 ways to evict your tenant"

    Sounds like Art Garfunkels
    " 50 Ways to leave your lover"

    Even if you buy right, rent to the right tenant, etc, the Anti Landlord Swivel Eyed Loon Unit ( ALSEL U) made up of the liberal left hand wringing politicians of all persuasions, Shelter, Gen Nowhere To Rent, The Guardian, BBC, Civil Disservice WILL push for legislation to stop you taking possession of your property, stop you raising rents, and stop you making a profit. Just look at the so called " Indeependerrnt Scarrrrtlaaand" and " Rent Not So Smart Wales" After all "property is theft" - unless owned by the state - as advocated by a certain Mr Marx, poster boy of aformentioned swivel eyed loons in said principalities.

    Let the solve it's own problem. Class War Envy.

    Get. Out. Now. For your own sake.


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