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40Pc Of Property Sellers Cut Their Asking Prices

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Zoopla.co.uk said 37pc of properties listed for sale on its site had seen at least one price reduction since coming to the market, compared with 36pc in November.

The average discount to the original asking price stood at 6.9pc or £18,475, up from £15,879 or 6.1pc in November.

The company said the figures provided "a clear indication of sellers becoming more realistic" in their expectations and "will be a welcome sign to buyers" as the gap narrows between asking prices and what buyers are willing to pay.

Discounts were largest at the top end of the market, Zoopla said. On properties listed for sale at more than £1m, the average discount had climbed to 10pc off the original asking price, up from 8pc in November.

Nicholas Leeming, Zoopla's commercial director, said: "As a result of weaker than expected demand in the last half of last year, sellers have progressively reduced asking prices to more realistic levels in order to achieve sales.

The denial phase starting to come to an end?

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I think it`s now the time for the fear stage and going by the local auction`s I think the BTL brigade is leading that charge :D

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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