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House price discounts in decrease

14th November 2012 | back to article listings BACK    print this article PRINT

The number of homes on the UK property market that have seen their asking price dropped from their original level is at its lowest level in two years, according to a study.

In what it is hoped is a sign of increasing strength in the market, owners are feeling less likely to drop their asking price than at any time since August 2010.

According to the report, almost a third of properties currently on sale have seen their asking price dropped at least once. The 32.8% level is down from 36.9% three months ago and 40.4% on a year previously.

The average price reduction on those discounted properties is now at its highest level for two years - 20,612, compared to 18,993 seen three months previously.

Lawrence Hall of Zoopla said: "The proportion of properties that have seen their price reduced and the average amount of the discount provides good insight into the strength of the local market. With the proportion of discounted properties nationally at a two-year low, this would indicate that sellers are feeling more confident than they have for some time."

Copyright Press Association 2012

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