Hope you are all well.
So DP and I are looking to buy a house in St. Albans at c.£900k-1m. We have sold our previous property late last year and are chain free (in rented . Rather frustratingly, a number of houses that would ordinarily be in our price bracket (based on historic sales information) are coming onto the market asking 10-20% over what they realistically should be taking into account the usual fundamentals, e.g. floorspace, orientation, spec, etc. I would expect more reasonable asking prices in these turbulent times!
At our budget, that means something worth £850-950k asking for £1-1.1m and we don't even want to entertain those ridiculous mark-ups. We're also concerned with the stamp duty holidays that this practice would continue to persist.
I appreciate guide / asking prices are always going to be on the optimistic side but the examples I have seen are just too extreme to be taken seriously, e.g. new property came on at £1.1m: no house has ever sold above £1m on the same street / comparable property few doors down sold at 880k in 2018.
Would be grateful for anyone else's comments on whether they are experiencing the same and how price negotiations are being dealt with!
In my example, do I even bother to go and see the house asking £1.1m when I know it is worth much less?!