Traditionally house sellers are often forced to cut asking prices in the pre-Christmas period but this year the nation appears to be holding a collective autumn sale, said the property website. Rightmove, which claims to list 90% of the houses being sold in the UK, said 37% of current sellers had dropped their asking price, with a typical 0.8% or £2,392 price reduction. UK house price growth to halve with capital worst hit Read moreThe mass price cut will be seen as further evidence that the market has slowed dramatically, particularly in London where prices have been falling. Last week the Royal Institution of Chartered Surveyors said the overall UK property market had stalled. She argues that one large price cut can work better than several small ones.

Source: The Guardian November 13, 2017 06:56 UTC