The sales market is back in the hands of buyers, Propertymark claims.
New data from the agency trade body shows 72% of sales agreed among members were secured below the asking price in November.
It comes as competition has dropped by more than a third, from a high of 11 new buyers to every new property instructed to just seven per member branch.
Agents are also facing falling supply and demand.
The number of new buyers registering per member branch dropped again to 52 in November - down from a high of 86 in August.
The average number of viewings per property continued to fall in November and now stands at 2.6, while new instructions were down on average to eight per member branch.
The slower market means that members have reported an average of 33 properties per estate agent branch.
That is a 74% increase in homes to choose from since the start of the year.
Nathan Emerson, chief executive of Propertymark, said: “The sales market is firmly back in the hands of buyers who have been on the back foot for 18 months.
“More property is available but the competition between those looking has cooled substantially. For those motivated to sell, good, solid buyers are still prominent.”
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It's good they've caught up at last.
Thanks for the heads up.
I predict Truss won't be prime minister. How pathetic they are and this article,
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