Sellers drop prices to woo buyers
MORE than 40 per cent of all UK properties on the market have experienced at least one price reduction and the average drop is 7.4 per cent of the original asking price.
Glasgow tops the list of places where the biggest discounts are on offer, followed by Newcastle and Bolton, say Zoopla.
Sunderland has most properties on the market that have been discounted at least once, with more than half (53.6 per cent) of sellers having to reset their expectations downwards. In London, nearly a third (32.6 per cent) of properties for sale have had to be reduced in price.