Wake­field tops list for re­duc­tions

Yorkshire Post - Property - - PROPERTY -

AL­MOST 40 per cent of prop­er­ties have had their prices cut since be­ing launched on the mar­ket, ac­cord­ing to Zoopla.

Wake­field tops the list of places with the high­est pro­por­tion of price-re­duced prop­er­ties on the mar­ket. Half the homes on sale there have been re­duced. Rother­ham has the sec­ond high­est num­ber, 45.6 per cent, fol­lowed by Barns­ley 44.7 per cent. The pro­por­tion of re­duced prop­er­ties in the UK is the high­est for nine months. The av­er­age ask­ing price re­duc­tion is £19,000, with the big­gest re­duc­tions in New­cas­tle and Liver­pool. In Lon­don, 29 per cent of homes have been re­duced, on av­er­age by seven per cent, which equates to an av­er­age £44,118.

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