House sellers knock £20,000 off prices to drum up interest
OVER a third of properties for sale in the UK have been reduced in price at least once since coming onto the market, research from Zoopla showed yesterday, as owners struggle to sell.
The average discount now stands at £19,580, or 7.5 per cent of the asking price, and more than £1,000 higher than the discount a year ago.
“This new high indicates sellers have come to terms with market realities,” said Zoopla’s Nicholas Leeming.
“Serious sellers must do their homework and follow the advice of their agent before settling on an asking price – otherwise they may well find their property on the market for longer than they’d hoped.”
The total amount reduced from the asking prices of all properties currently for sale across the country stands at £2.5bn.