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Given the location and the selling style I assume this is a Stow Brothers joint. We're selling through them and ended up reducing the asking price by 4% before we got an offer as we were getting loads of viewings without any concrete offers, and the same thing seems to have happened to a few other places near us. I suspect they've overestimated the post-covid demand bump in the first time buyer end of the market - there's a lot of people looking right now, yes, but far fewer wanting to commit (perhaps sensibly).
Viewed a couple of places in E17 over the weekend. Asking prices seem to have increased by about 5% since pre-COVID and while I don't know if sellers are actually getting that for them, it doesn't seem to be putting off potential buyers. One property was a "2 bed" flat, with a second bedroom not big enough to fit a bed. 450k OIEO and apparently a viewing every 10 minutes between 9.30 and 2.