Property website Zoopla finds sharp rise in sellers dropping prices
The number of second hand properties being discounted by sellers has increased by 13% in the last three months, according to the latest data from property website Zoopa.
In total more than a third of all homes – 36.4% – are now discounted from their original selling price by an average of 6.1%, according to Zoopla’s data.
Swindon was the town with the most properties offered at discount, with half of all properties having their price cut, and Manchester was the place offering the highest average discount, of 7.15%.
In general, places in the West and Midlands are suffering the most, the firm said.
Nicholas Leeming, commercial director of Zoopla.co.uk, said, “Sellers are becoming increasingly realistic. Many are keen to try to secure a buyer this side of Christmas and are lowering their expectations accordingly.”