Research from Zoopla showed 42.7% of owners selling in Barnsley have been forced to reduce asking price at least once since being put on the market, with Rotherham and Wakefield not far behind.
However, overall, the number of sellers forced to reprice at least once has fallen from 37% one year ago to 32%, with average discounts also falling from 7.6% last August to only 6.3% now.
London has the lowest proportion of discounted properties on the market, with less than a quarter of sellers forced to lower their price. Edinburgh at 28% and Wolverhampton follow closely at 29%, with Wigan and Sunderland seeing around 40% of sale prices reduced, worth roughly £12,000.
However, in London the average price reduction is still 7.3% of asking price or an average of £66,575. In Edinburgh it’s 5.3% which converts to £14,722.
Lawrence Hall of Zoopla.co.uk, said: “Banks, sellers and buyers are all more bullish about the state of the economy, which bodes well for the months ahead. And the Bank of England’s forward guidance on interest rates has generated a greater sense of certainty about the future, which should lead to even more activity.”
