Average UK house prices collectively slashed to nearly 20K as homeowners choose fast cash contracts through sell house fast route

 

At least a third of properties across the UK that have been on the property market for more than 6 months have seen drastic slashes in property value

Lack of property buyers in the UK has forced homeowners in certain areas of the country to drastically reduce house prices again in these times of uncertainty.

Those homeowners who sell house fast in return for a quick sale and fast cash return are benefiting the most through relieving themselves of ongoing property costs which they have struggled to afford.

A recent property survey revealed that the key UK areas which have been the hardest hit by the price slump. Areas most affected by the UK property price slump include:  Scunthorpe, Blackpool, Newcastle, Rotherham, Stockport, Chesterfield and Wakefield

Average house price reductions across the country convert to nearly 20K drop in overall UK property prices.

The recent price slashes are not the first and properties in these areas have seen some homeowners facing a second or third significant reduction from original asking prices.

A property search website recently published survey results that showed 36.7% of properties which were up for sale had had reductions and the average discount from original asking prices is 7.5% which equates to a staggering £19,580.  The new statistics show that the house price reductions are a new record high for the UK.

Interestingly, the statistics showed that adding up all price slashes in every area of the UK across properties currently for sale the collective figure is a staggering 2.5 billion in slashed prices.

 

 

February 11, 2012 at 10:32 am | Sell House Fast |
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