Property price drops less common in 2013
The number of people selling their houses through estate
agents who are having to discount their asking price is
falling, a new study has shown.
According to details released by Zoopla, the number of homes for
sale that have seen a discount has fallen from 37 per cent to 32
per cent in the last 12 months as demand rises and it becomes
easier to find a buyer.
It also said that level of reductions has gone down, with the
average price reduction going from 7.6 per cent to 6.3 per cent in
the past year.
Lawrence Hall from the company said: "A fall in the proportion and
level of asking price discounts suggests sellers are feeling more
confident and happy to wait it out to achieve their target asking
price. First time buyers are finally getting a look in due to
improved mortgage availability which in turn is lifting the whole
The increase in demand has been brought about by such schemes as
Help to Buy, which have made it far more affordable for people to
get a mortgage.