20 Aug

Property price drops less common in 2013

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 market."

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.ADNFCR-1222-ID-801627419-ADNFCR

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