January sales: One third of homes have prices cut

January sales: One third of homes have prices cut

0:07 AM, 10th January 2025, About 7 hours ago

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An analysis of more than 322,000 homes currently listed for sale found that 113,612 properties have seen the asking price being reduced – that’s around 35% of the market.

The findings from eXp UK, the platform for personal estate agents, reveal that Norfolk emerged as the region with the highest proportion of price-reduced homes, with 45% of listed properties seeing a price cut.

The Isle of Wight followed closely with 40%, and East Sussex rounded out the top three at 39.2%.

Bag a bargain in the sales

The firm’s Adam Day said: “January can be a great time to bag a bargain in the sales and whilst a property is a pretty sizable purchase, our research shows that there are a good proportion of homes currently on the market that have seen an asking price reduction in order to entice buyers.

“However, this might not be the case for long, with the clock now ticking with respect to current stamp duty relief thresholds which increase as of 1st April this year.”

House price reductions

Other regions with a high percentage of price reductions included Lincolnshire, Herefordshire, West Yorkshire, Nottinghamshire, Dorset, Rutland and Hampshire.

Conversely, homebuyers in Northumberland had the least luck finding price reductions, with only 28.5% of listed properties having seen a price decrease.

Mr Day said: “This countdown is sure to drive buyer activity and, as it does, prices are likely to climb too.

“So, if you are in the market for a property, acting sooner, rather than later, could see you save on your purchase.”


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