Fewer sellers chopping their asking prices, says Zoopla

Fewer properties are having their asking prices cut, says Zoopla.

It says that in the last two years, the proportion has fallen from 40% to 31%.

The level of the reduction in asking prices has also fallen over this period. Sellers who were discounting their properties to try to achieve a sale in November 2011 were doing so at an average of 7.4% of the original price. The average reduction today is 6.4% of the original price.
 
Preston currently has the highest proportion of discounted properties with 43% of homes for sale having been reduced in price since coming on to the market. Yorkshire towns dominate the remainder of the top five places with the biggest proportion of reduced-price properties on the market in Rotherham (42%), Wakefield and Barnsley (both 41%) and Doncaster (40%).
 
London has the lowest proportion of price-reduced properties at 20%.

Bedford (25%) has the second lowest proportion of discounted properties for sale with Milton Keynes (28%) the third lowest .
 
The biggest average discounts to the original asking prices are in Liverpool, with an average current asking price reduction of 8.6% (£14,149).

The smallest discounts are in Plymouth and Edinburgh, where sellers who have dropped prices have done so by only 5.5% on average.