I would give it another month as you have had loads of interest.
I don't really agree with the agent though as people usually say the market decides the price and if it's low enough then it will sell. I had to take mine off til next year as we knocked too much off (25k) and I think it put people off a lot and made them more jittery. Just speculation on my part and I could be wrong.
The market is in freefall if I saw a reduction I wouldn't think desperate atm as the news is reporting worse news daily and there will be no recovery from this for years.Apparent;y the city predicts prices back to Sept 2003 so about 35% so ten is not bad to get to lovely australia where incidentally prices are also on the way down.
I thought that a house was worth what someone would pay until I put mine on this year. There is a lovely 3 bed terrace round the corner from me on at £175,000 - they cannot sell it (like us they have had noone round in 3 months- market too jittery - people not even looking) and I reckon they would have got £225 last year for it
I genuinely think my house (valued at £275, £280 and £299 - would not sell even if we put it on at £225 - we had it on at £250)
and that would have been almost a 25% reduction on the top valuation - when reporting for Hertfordshire is only a 4% fall so far.
Friend has just sold their house after reducing asking price from £980K to £910K and then £895,000 (lovely house in smart area of London). They changed agents too. They are now under offer.
It looks like a hell of a hit to take, but actually last summer's prices were just a bubble rather than reflecting actual value. If I really needed to sell now I'd cut until I got an offer, then take the money and run. Tis only going to get worse.
good luck. send some viewers my way aswell please! had 4 viewings, another booked, one offer but they havent sold yet - so stil hanging on in here. we have equity, and in no rush - will sell with no chain. this time last yr we would have sold within a few days - but renovations werent complete then.
my agent says no point in knocking 10% off as that is the sort of amount people will knock off in an offer anyway and unlikely to attract any new interest. we have been on for nearly 12 months now and willingly lowered price twice and suggested doing so again but our agent said no. we have had someone interested but they cant seem to sell their place. is all one big nightmare. we will prob just come off and stay off for a while. all the best with it.