Desperate home sellers slash record amounts off house prices to generate a sale

Last year, the average discount was £18,475, meaning there should be even more bargains to be had in the current housing climate this year.

Figures from HM Revenue and Customs (HMRC) revealed house sales stuttered in 2011, with just 869,000 residential properties sold.

This was close to the record low in 2009, when just 848,000 homes were sold the lowest since modern records began in 1978.

Nicholas Leeming, of zoopla.co.uk, said: ‘The current average discount of £19,580 is a new high indicating that sellers have come to terms with the market realities.

‘Pricing correctly remains key when selling a home and whilst there is a shortage of sale stock currently, buyers are more discerning and more informed than ever before.

‘Serious sellers must do their homework and follow the advice of their agent before settling on an asking price otherwise they may well find their property on the market for longer than they’d hoped.’

  • Handy tool: Use Zooplas calculator to value your house

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