The asking prices of 37.9% of properties for sale in Britain have been cut by an average of £26,000 ($33,000), according to research by Zoopla. The figure is up from 32.4% of properties in April and, while the data demonstrates the housing market is slowing, there are significant regional differences. Asking prices have been lowered for only 19% and 26% of properties in the London district of Mitcham, while overall in the capital 39.5% of properties have been discounted. However, in Brighton 46.6% of properties have had their prices cut, whereas Glasgow and Manchester saw price reductions on 45% respectively.
The asking prices of 37.9% of properties for sale in Britain have been cut by an average of £26,000 ($33,000), according to research by Zoopla. The figure is up from 32.4% of properties in April and, while the data demonstrates the housing market is slowing, there are significant regional differences. Asking prices have been lowered for 45% of properties in the London district of Mitcham, while overall in the capital 39.5% of properties have been discounted. However, in Brighton 46.6% of properties have had their prices cut, whereas Glasgow and Manchester saw price reductions on only 19% and 26% respectively.