You may have seen the BBC reporting that more than 3,000 properties across Britain are having their asking prices reduced every day.
But what’s actually happening closer to home?
Over the latest 30-day period, 126 properties in Basingstoke had their asking prices reduced, a 48% increase on the previous 30 days.
Interestingly, though, official figures released today show that the average property price in Basingstoke and Deane has actually risen 2.2% over the past year to around £374,000.
So what’s going on?
Essentially, sellers are having to be more realistic about what buyers are prepared to pay. That doesn’t necessarily mean property values are collapsing, but it does suggest buyers have a little more negotiating power than they did previously.
For anyone looking to buy, particularly first-time buyers, it’s worth remembering that an asking price isn’t necessarily the price you’ll end up paying.
And for anyone looking to sell, pricing realistically from the outset is becoming increasingly important.
It’s an interesting market at the moment, and certainly not quite as straightforward as some of the national headlines suggest.
*Merit Mortgages | Basingstoke*
Sources: Rightmove, Perch and ONS, October 2026.