Home Buyers Get £18,000 in Average Discount Amid High Home Sales Numbers

Home buyers are securing an average of £18,000 off their next home amid a six-year high in home sales in the UK, a price index has revealed. Zoopla’s latest House Price Index showed a strong buyers market, caused by high mortgage rates affecting demand and more supply boosting negotiating power. In November, sellers were accepting 5.5 percent off the asking price to agree sales. This is the largest gap for over five years and compares to a 3.4 percent average discount in the first half of 2023. “This is being keenly felt in the south of England where the average discount to the asking price for sales is 6.1 percent in London and the South East – equating to a total reduction of £25,000 off the asking price,” Zoopla stated....