Zoopla: Asking price discounts hit a five-year high – is now the time to buy a property?

Zoopla’s October House Price Index shows sellers are accepting discounts of 5.5% on average to secure a sale – we reveal where homeowners are taking the biggest asking price cuts

Estate agent window
(Image credit: Getty Images)

While house prices have been sliding, homebuyers are securing an average of £18,000 off the asking price of a property as discounts hit a five-year high, research reveals.

The property market has slowed in recent months as high mortgage rates and the cost of living crisis hits buyer budgets.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.