Posted: 15th June 2023
One in 10 property vendors drop asking price within 30 days
Research has shown that Up to one in 10 sellers are slashing asking prices in some parts of the country within a month of putting their property on the market.
Of the 85,000 homes that came onto the market in the past 30 days, according to Zoopla, 6,215 have already seen reductions.
This means that as the market continues to cool, 7.3% of vendors are almost immediately dropping their prices to entice a buyer.
The East of England has seen the largest volume of sellers opting to cut the asking price, with one in 10 (10.1%) homes seeing a fall.
The East of England has seen the largest volume of sellers opting to cut the asking price, with one in 10 (10.1%) homes seeing a fall ,London and the South-East are also showing signs of weakness, following close behind with reductions of 8.8% and 9.8%, respectively.In the East Midlands the figure came in at 6.5%, while the West Midlands saw price cuts of 5.7%. In the South-West the fall was 5.9%,
The North of England saw the smallest number of price reductions, with Yorkshire and the Humber on 4.9%, the North-West at 4.3% and the North-East at 4.1%
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