Over a Third of Homes for Sale in the UK Have Had Price Reductions
The proportion of homes on the market in the UK that have had at least one price reduction is at its highest level in over a decade, with more than a third of properties affected. The average size of the price reduction is also the highest since January 2011. This suggests that some sellers were too optimistic with their initial asking prices and have had to make bigger-than-usual adjustments. However, there are signs of activity picking up in the housing market, with a jump in the number of new properties coming to market.