Rightmove reports daily price cuts on 3,000 homes
In September, home sellers in Britain cut asking prices on over 3,000 properties daily, marking the highest monthly total in 15 years. The average price reduction was nearly 7%, or approximately £21,000, and homes that were discounted took longer to sell. Rising mortgage rates and increased market supply have made buyers more cautious and selective, leading to a slowdown in sales and longer selling times for properties requiring price reductions.
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