A professional house buying firm has revealed the areas in and around Watford where home sellers have been reducing their prices the most.

Property Solvers has tracked 532 property transactions between August 2020 and August 2021 using the monthly updated asking vs sold price difference tool.

This shows the average differences between asking prices on Rightmove and their actual sold prices lodged at the HM Land Registry.

The data monitors the house sale process from initial listing, viewings, negotiation, offers, agreement through to the survey process, conveyancing, exchange and finally completion.

The biggest price discounts were seen in the WD7 (Radlett) postcode. 

Across this area, 23 sellers were knocking off an average of £-34,671 (or -3.04 per cent) from the initial asking price in the 12 months to August 2021.

Over the same period, the lowest hits on price were seen in WD24 (Watford), where 59 home sellers reduced their properties by an average of £-7,024 (or -1.69 per cent) to get the sale going.

You can view the full data below:

Watford Observer: Data from Property Solvers Data from Property Solvers

Property Solvers co-founder Ruban Selvanayagam said: “Despite what has been a very active market, homebuyers are still, by and large, able to negotiate down on prices. 

“For sellers, before listing, we always suggest looking at the widely available free data from HM Land Registry which tracks the prices properties are sold for and not what they are advertised for. On Rightmove, for example, you can often see previous listings to see how yours compares.”