Nearly four in ten properties have had their prices cut since being launched on the market, says Zoopla.
The proportion (37%) is the highest for nine months, says the property portal.
The average asking price reduction is £19,000, with the biggest reductions in Newcastle and Liverpool.
Wakefield tops the list of places with the highest proportion of price-reduced properties on the market today (51%), followed by Rotherham (45.6%) and Barnsley (44.7%).
Even in London, which has the lowest proportion of properties for sale where the prices have been cut, 29% of homes have been reduced, on average by 7% – which in London works out to £44,118.
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Comments
With the biggest agent turning 'over valuing' into an Olympic sport is there any wonder 51% have had a price reduction. And then they only have approx 10% of their stock showing as sold. WOW!!!