Fewer bargains in prime properties

THE number of £1m-plus properties that have had their asking prices cut has fallen to the lowest level for three years, according to Primelocation.

Only 18 per cent have suffered reductions compared with 27 per cent a year ago. Rickmansworth, in Buckinghamshire, tops the list of places where the highest proportion of £1m homes are offered at less than the original asking price. Almost half (48 per cent) have had their price cut. Only four per cent of prime properties on the market in Guernsey have been reduced in price.

The smallest price reductions on £1m-plus properties on offer in the market are to be found in the Surrey towns of Waltonon-Thames (4.3 per cent) and Guildford (4.2 per cent).