• THE PRICE ISN’T RIGHT : HOW TO SPOT AND STOP YOUR HOME BEING OVERVALUED

    With prices still rising and very few homes on the market, it seems incredible that 1 in 20 asking prices were slashed in May. The figures from Zoopla show an average drop of 9% (or £22,500); the biggest discount margin for 18 months. House prices rose by 11.2% year-on-year in May, slightly down on the 12% from April to April but still a substantial increase. So why are homes being reduced in price? Unfortunately, overvaluing is being used more and more to get homes on the market. Differences in opinion of a few percent between estate agents are perfectly normal, but the need for more stock is seeing homes hit…