Nottingham Letting Agent Property Blog

More than a third of homes for sale have had their price reduced at least once since being listed, with Glasgow, Blackpool and Maidstone being the worst affected. The average discount from the original selling price is £19,580, or 7.5% which is £1,000 more than price reductions seen this time last year. According to Zoopla, homeowners are slashing their prices in an effort to attract buyers, and apparently if all these reductions were added up they would total around £2.5 billion. The current levels of discounted properties are at a new high as sellers come to terms with the fact that...

Last month saw house price falls in nearly a third of the country, with the average property price dropping by 0.2% according to research from Hometrack, and it's forecasting this rate of decline could increase during the coming months. Figures from the Hometrack Monthly National Housing Survey show property prices have fallen consecutively during the last 16 months, and this year could see the lowest number of house sales for 40 years. However this price decline has been slight as prices are down by just 2.3% compared to last year.Hometrack is basing these predictions on several factors, one of which is ...

Although properties are selling, albeit somewhat slowly, a new report by property listing website Zoopla has just revealed that two in five homeowners have had to cut their asking prices at least once. Apparently canny buyers are determined not to pay too much, and the average price of a property is being reduced by around £18,500, which is 7.1% off the original asking price.  According to estate agents, the number of reduced properties on their books has increased to 38.6%, up from 37% three months ago and 32% 12 months ago.It's not just the average three-bedroom house that is being reduced,...

A study by Zoopla.co.uk shows that 80% of the 3.5 million properties bought since 2006 are now worth less than their purchase price. However a lot of owners are unwilling or unable to sell for less than they bought and are asking unrealistic amounts for their homes. This is resulting in an awful lot of properties being stuck on the market.Those who bought between 2007 and 2008 have been hardest hit, and the situation is worse in the north-east with some 93% of properties bought since 2006 now being worth less than the amount paid for them. According to Zoopla, the...