Home sellers slash prices ahead of Budget

Home sellers across the UK are increasingly cutting asking prices as the property market stalls ahead of the Autumn Budget, with price reductions up 16% year-on-year and more than double levels seen during the 2021–22 boom, according to TwentyCi. Rising build costs, mortgage rates, and uncertainty over potential property tax changes have contributed to the slowdown, while more sales are collapsing, with 240,075 abandoned so far this year. London is particularly affected, where 80% of properties are selling below the original purchase price and nearly half have seen price cuts. Estate agents report that buyers are negotiating harder, and sales are largely driven by necessity rather than investment.

Daily Mail (22/10/2025)