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Third of homes for sale have dropped asking prices by £25k – Zoopla
One in three home sellers have dropped an average of £25,562 from the asking price, as discounts for buyers increase, according to Zoopla.
Property prices in London have been marked down by an average of £53,251– with sellers in Kensington and Chelsea giving the biggest mark-downs at a typical £129,559, data from the property site showed.
More than half of properties for sale in Camberley, Kingston-upon-Thames and Richmond have reduced price-tags, with areas seeing the largest share of discounts.
But the biggest falls, as a proportion of the asking price, are in Stockton-on-Tees with a typical 8.37% knocked off, working out at an average £13,350.
Both the amount of homes with reduced asking prices and the sizes of the discounts have increased since July, according to Zoopla.
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Overall, properties in Scotland and Northern England have seen the smallest discounts with only 15.73% of homes in Edinburgh with reduced asking prices, while the situation in Salford is similar.
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Lawrence Hall, spokesperson for Zoopla said: “A slight rise in levels of discounting is to be expected at this time of year when house-hunters are likely to be delaying their property search until activity picks up in January.
“Those on the look-out for a bargain should consider looking in Camberley or Kingston-upon-Thames in the South, or areas of the North East; home to some of Britain’s biggest discounts.”