UK home sellers having to cut average of £14,000 from asking price

Zoopla says demand from homebuyers ‘rebounded’ in the first two months of this year after September’s mini-budget caused chaos in the financial markets. Photograph: Peter Atkinson/Alamy

UK home sellers are having to shave an average of £14,000 off the original asking price as the market continues to cool, data shows.

The property website Zoopla also said that in the face of weaker demand, more than 40% of the homes it currently had listed for sale had an asking price that had been lowered to attract “price-sensitive” buyers.