Proactive Pricing Outplays Hope in North Devon

Short version: price smart, sell faster, sleep better. Here’s the week’s market truth without the fluff.

The Big Picture (this week)

• Rates held, not cut. The Bank of England left borrowing costs where they were. Buyers hoping for another trim… didn’t get it. Affordability bump = cancelled (for now).
• Forecasts trimmed. Knight Frank knocked next-year price growth down from 3.5% to 1%. Less tailwind, more head down.
• Autumn Budget chatter (not law yet, but enough to spook higher bands):
o Stamp Duty swap mooted: buyer SDLT (stamp duty) out, seller-paid tax above £500k in.
o “Mansion tax”/CGT(Capital Gains Tax) tweaks on high-value main residences being floated.
o Council Tax reform toward something more proportional.
o CGT relief on main homes capped above a threshold.
o NICs (National Insurance Contributions) on rental income for individuals under discussion.

Property Listing Snapshot (your numbers)

• All price ranges: 4,408 listings incl. SSTC.(Sold Subject to Contract)
Under offer: 1,198 → 27.2%. Available: 3,210 → 72.8%.
• £500k+: 960 listings incl. SSTC.
Under offer: 158 → 16.5%. Available: 802 → 83.5%.
Translation: overall, just over 1 in 4 is under offer. At £500k+, it’s 1 in 6. Stickier at the top, as usual.

Last 14 Days (the “pulse”)

• All prices: 481 new listings; 19 already under offer → 3.95% sale agreed in two weeks.
• £500k+: 80 new listings; 1 under offer → 1.25% sale agreed.
Fresh stock is piling in faster than it’s being eaten. Especially north of £500k. Price to cut through, not to daydream.

Why You Should Care

1. Your hot window is two weeks. Launch high and you become that listing everyone scrolls past—like the last sausage roll at 4pm.
2. Price picks your buyer pool. At £500k+, only 16.5% are under offer and just 1.25% of new stock went under in 14 days. Sharpen the number or expect tumbleweed.
3. Presentation helps; pricing decides. Photos and copy convert once the figure earns the click.

Case Study (real client, real result)

• Launch: Sensible guide. 11 viewings in 4 months. Many viewers weren’t proceedable (welcome to 2025).
• Month 3: Proceedable buyer makes a low offer, then withdraws for personal reasons.
• Pivot: Sellers re-set the asking price to meet the market.
• Outcome: Within 1–2 weeks, new viewings and 5 buyers now racing to win this property.. Within 3 weeks, new offer accepted—£20k above the earlier withdrawn offer.

Moral: Lower asking price, higher sale price, faster result. Alignment beats optimism.

The Pricing Playbook (no nonsense)

• Start with solds, not listings. Use completed sales in the last 3–6 months; adjust for condition, plot, outlook, parking, EPC.
• Price to create competition, not silence. A tight, defendable guide > a “try high” fantasy followed by sad reductions.
• Use micro-market proof. If your segment shows 83.5% still available (hello, £500k+), acknowledge it and undercut the crowd with confidence.
• Pre-agree a price tweak. If viewings and feedback are thin after two weekends, adjust quickly. Speed protects value.

Bottom Line

Rates didn’t fall. Forecasts did. Tax talk is getting louder. The numbers say it plainly: 27.2% under offer market-wide vs 16.5% at £500k+, and two-week absorption of 3.95% (all prices) vs 1.25% (£500k+).

Price like a strategist, present like you mean it, react to the data. That’s how you turn curiosity into commitment—and keep both your timescale and your outcome on your side.

For a tailored view of your property selling circumstances please get in touch I am always happy to help.

Nic Chbat

Match Property | Unique & Distinctive | The Property Finder