Sellers slash prices amid market turmoil

The UK housing market is facing significant downward pressure, with many homes selling for below their initial asking prices. Rising interest rates, tax uncertainty, and an oversupply of properties have shifted power to buyers, who can negotiate aggressively. Research shows that two-thirds of homes under £2m have seen price reductions, particularly in the South East and South West. Experts say well-timed price adjustments - often 10% or more - are crucial to attract buyers, while properties requiring extensive updates struggle to generate interest, reflecting challenges across both rural and urban markets. 

The Daily Telegraph (02/11/2025)