Average price reduction in the housing market 'is over £25,000'

House sellers who have reduced their original asking prices are offering typical discounts of over £25,000, according to analysis from a property website.

Some 35.33% of homes on the market in November had had their original asking price reduced, marking a 1.25 percentage point increase compared with July, Zoopla found.

The average reduction in property asking prices stands at £25,562 or 8.65%, also an increase since July when the average discount stood at £24,823.

Zoopla, which analysed property listings on its website, found Camberley has the largest share of discounted properties for sale, with over half (53.52%) of properties for sale in the Surrey town marked down from the original asking price.

Nearby Kingston-upon-Thames and Richmond-upon-Thames have the second and third highest proportion of discounted properties, at 51.31% and 50.52% respectively.

Prices appear to be holding more firmly in parts of Scotland and Northern England.

Just 15.73% of homes for sale in Edinburgh have been reduced in price, while Salford ( 18.64%), Glasgow (21.62%) and Manchester (24.66%) follow closely behind.

In London, 39.45% of property listings have seen a price reduction, up from 36.67% in July.

Lawrence Hall, a spokesman for Zoopla, said: "There has been an increase in the number of reduced properties currently on the market and a small rise in the average discount applied, which is more good news for first-time buyers trying to get on the property ladder.

"A slight rise in levels of discounting is to be expected at this time of year when house-hunters are likely to be delaying their property search until activity picks up in January."

Here are the areas in Britain with the biggest proportions of asking price discounts, according to Zoopla, with the average reduction in percentage and cash terms and the proportion of homes on the market that have had the price reduced:

1. Camberley, 6.72%, £30,382, 53.52%
2. Kingston-upon-Thames, 7.78%, £84,244, 51.31%
3. Richmond-upon-Thames, 7.49%, £87,445, 50.52%
4. Watford, 5.66%, £29,668, 49.29%
5. Middlesbrough, 7.74%, £11,534, 48.24%
6. Mitcham, 7.13%, £43,441, 47.38%
7. Crawley, 5.23%, £20,998, 47.22%
8. Bracknell , 5.4%, £21,533, 46.8%
9. Uxbridge, 5.17%, £27,300, 46.51%
10. Prenton, 7.27%, £11,677, 45.89%

And here are the areas in Britain with the smallest proportions of asking price discounts, according to Zoopla, with the average reduction in percentage and cash terms and the proportion of homes on the market that have had the price reduced:

1. Edinburgh, 4.9%, £15,122, 15.73%
2. Salford, 7.11%, £19,548, 18.64%
3. Glasgow, 5.94%, £9,097, 21.62%
4. Manchester, 6.2%, £15,391, 24.66%
5. Barrow-in-Furness, 6.02%, £8,339, 25.58%
6. Blyth, 7.32%, £10,257, 25.65%
7. Llanelli, 7.04%, £14,802, 25.82%
8. Cheltenham, 5.3%, £18,688, 25.96%
9. Birmingham, 5.81%, £14,057, 26.71%
10. Walton-on-Thames, 6.46%, £46,531, 27.04%

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