Discounted price offers boon to property bargain hunters

Discounted price offers boon to property bargain hunters

The time is right for property bargain hunters to make their move. Data from online estate agent listings site Zoopla has revealed that the prices of more than a third of properties on the market have been cut.

In fact, the average price cut is £26,131 (8.5 percent), meaning anyone who already has their finance to buy in place is perfectly positioned to nab a bargain.

And with Fridaysmove only a call (0800 038 6446) or online click away, you can instruct your conveyancing solicitor to make a quick move on your behalf to seal the deal.

Big reductions available

Zoopla analysed the asking prices of properties listed on its site, noting that more than a third (38 percent) have been reduced in price. In April, a similar analysis showed 33 percent of properties had dropped their price.

Bradford, in west Yorkshire, shows the biggest reduction by percentage (7.8 percent), translating to a price discount of £10,738. Mitcham, in south London, is next. Its percentage discount is 7.5 percent, but that means a whopping £47,165 off an average asking price because of the much higher price premium on properties in the capital.

Properties in Newcastle are being discounted by 7 percent, giving buyers a £13,721 discount.

Realistic in asking prices

But in Brighton, almost half (46.6 percent) of all properties on the market have seen their asking price fall, followed by Woking in Surrey (46 percent) and Mitcham (45.9 percent).

Zoopla suggests that a subdued property market is leading to sellers being more realistic in their asking prices, hence the discounted prices.


by Frances Traynor
Wednesday 24th of October 2018 12:24:09 PM