Price Cuts Surge as Sellers Seek Buyers
- Sarah Ruivivar
- Oct 29
- 2 min read
In a bid to woo hesitant buyers, a whopping 5,559 home sellers across Britain have slashed their asking prices within just 30 days of listing.
With the market in a bit of a snooze-fest, sellers are trying to shake things up and catch the eye of potential buyers.
England leads the charge with 5,258 properties seeing price cuts, making up 6.4% of all newly listed homes. Scotland and Wales are also feeling the pinch, with 183 and 158 reductions respectively. Bristol takes the crown for the highest proportion of price cuts at 9.8%, while Bradford and London aren't far behind.
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Springbok Properties' head honcho, Shepherd Ncube, notes that the market is in a bit of a limbo, with sellers struggling to secure sales as buyers adopt a "wait and see" approach ahead of the Autumn Budget. Price cuts are a popular tactic, but they’re not quite hitting the mark in this sluggish market.
For those eager to sell before the festive season, quick sale and direct cash buying routes offer a glimmer of hope. While sellers might pocket less than they’d like, they gain the certainty of a sale and the freedom to move on their own terms.
So, as the market waits for the Autumn Budget dust to settle, sellers are left pondering their next move. Will the market pick up, or will they need to explore alternative selling strategies?
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