Asking Price In Properties In UK Falling

5 Jul

In the UK, during seasons of property sales, most properties are discounted by at least 6.06% while in some areas, discounts reach almost 10%. Most of the properties in discount have even complete furnishings with sophisticated marble basins and luxurious amenities.

In a recent research that was conducted by an online property portal known as the Zoopla, Rotterham is the location that has the most number of properties that are selling for less than the asking price which is set at 43.6 percent. Meanwhile, Blackpool is accorded to have the largest discount in its real properties.

Despite however of the offer of lower discounts, 31 percent of the accounted properties for sale on the market have at least reduced their selling price once from the original listing. This total percentage equates to more than 2 billion pounds of reductions in the total sales of flats and houses across the United Kingdom.

The top ten locations that have the highest percentage of real estate properties with the asking prices reduced are all located in Northern England. These locations have more than two fifths of all combined properties listed. The next area with the highest reported discount is Preston with 43.2 percent and Barnsley come in next with 42.3 percent.

The place with the largest reduction in the asking price is Blackpool and then next is Manchester at 8.3 percent followed by Bradford with 7.9 percent and finally London has 7.4 percent in asking price.

If you look at London in detail, you will notice the neighboring boroughs of Merton with reduction of asking price at 28.7 percent, while both Croydon and Richmond-upon-Thames at 27.3 percent. These locations have the highest proportion of the properties with reduced asking prices that are for sale. However, if you are looking for the fairly largest reduction they can be found at Havering with the price discount set at 10.45 percent.

In the national market, there is more than one fifth of the housing properties that are valued more than 1 million pounds that have been reduced in prices since it first was listed in the market. The average discount for the properties is more than 185,000 pounds.