Cash buyers score big discounts as sellers want quicker sales

Cash buyers are enjoying big discounts on property purchases across England – of up to £86,000 – as sellers move to sell up quickly as the mortgage market stabilises.

A study by Lomond reveals that thousands of homes in England are listed for sale with sellers specifically targeting cash buyers.

These properties, on average, are priced 17% below the wider market, equating to a £52,059 discount.

However, the discounts offered to cash buyers vary significantly across regions – and there’s no indication that these are landlords wanting to move out of the PRS.

Secure a cash buyer

The firm’s chief executive, Ed Phillips, said: “Cash buyer status has always carried an immense amount of weight within the UK property market as it allows sellers to dramatically reduce the time associated with selling a home.

“So, whilst we’ve now seen a far greater degree of stability return to the property market following the initial hold and subsequent reductions to the base rate, it’s clear that some sellers are still more than happy to offer significant discounts in order to secure a cash buyer.”

The research shows that in Yorkshire and the Humber, cash buyers can secure a 25% discount, amounting to £54,043.

The South East offers the largest discount at £85,979 (22%), while the West Midlands follows closely with a 20% discount or £51,961.

Even in London, where discounts are comparatively smaller, cash buyers can still benefit from a £41,967 (8%) price reduction.