Some sellers have had to reduce prices for homes as buyer demand begins to dry up.
Over the past few years there has been an extremely high demand for homes, with many selling way over the asking price. However, with factors such as the cost of living crisis impacting almost everyone's finances as well as a more stabilised supply-demand rate, overpriced houses are having to drop their rates.
Data from Zoopla shows that 6.1 percent of UK homes for sale have seen a price reduction this year. The property experts say that this is an upward trend and is the highest level of reduced prices since before the pandemic.
