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The Times - House Price Discounts

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House price discounts on rise

People trying to sell their homes in the south of England are having to accept increasingly bigger discounts to the asking price.

Hometrack, which provides residential property data, said that the largest discounts were in London and Oxford, of up to 4.7 per cent on average, and in Cambridge, of 3.1 per cent.

https://www.thetimes.co.uk/article/house-price-discounts-on-rise-nx2srph36

unfortunately  I dont subscribe so I cant see the full report.

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2 hours ago, hurlerontheditch said:

or, as I have seen in my area (west London), the vendors move it to a different agent (who have completely new potential buyers) and stick on at the same price then eventually withdraw it from the market

The people you're describing, they are kite flyers not vendors. But there are always '3D' vendors; debt, divorce and death.

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'Discount'...what a strange term.

Implies it's only temporary, I suppose - it's a 'discount', not a 'reduction', so normal service will be resumed as soon as possible.

What strange, financialised, obfuscated times we live in.

" The beginning of wisdom is to call things by their proper name " [Confucious] - I think more than a few contemporary politicos and financiers could do well to take that on board, before it's too late to engage with reality and we find ourselves in Japan-like twilight world stasis.

In fact scrub that - too late. Best stay in la-la land of cheap credit reality detachment. Easier that way.

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I support the comments above that these are not 'discounts' at all...I am sure this choice of words is deliberate however.  The real story is vendors having unrealistic expectations and having not accepted the market moving against them.

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  • 301 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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