Rightmove, one of the UK’s biggest property websites, has revealed that House Sellers have cut their asking prices by the largest amount since December 2007.
In November, the average asking price was dropped by £7528 from the previous month, making it the largest drop for almost four years.
The number of people putting their property on the market has also dropped by 13% compared with October. As Miles Shipside, the director of Rightmove said, ‘Markets dislike uncertainty, and so do people deciding whether or not to enter the property market.’
Diminished consumer confidence in the current climate has encouraged many would-be sellers to delay their marketing until the new year.
Property asking prices cut by most in four years - The Telegraph