{"id":568,"date":"2018-11-21T23:58:03","date_gmt":"2018-11-21T23:58:03","guid":{"rendered":"http:\/\/bricksandmortarmagazine.co.uk\/?p=568"},"modified":"2025-03-04T16:36:44","modified_gmt":"2025-03-04T16:36:44","slug":"where-to-find-the-biggest-property-price-reductions","status":"publish","type":"post","link":"https:\/\/bricksandmortarmagazine.com\/?p=568","title":{"rendered":"Where to Find the Biggest Property Price Reductions"},"content":{"rendered":"

More than a third of British properties have been slashed in price \u2013 by an average of \u00a326,131, or 8.5%.<\/p>\n

According to the latest data from Zoopla, 38% of properties on the market have been reduced in price. That\u2019s a 5% increase since April.<\/p>\n

The biggest percentage reductions over the last six months have been in\u00a0Bradford<\/a><\/strong>\u00a0(7.8%) where the average discount stands at \u00a310,738.\u00a0This is closely followed by the London suburb of\u00a0Mitcham<\/a><\/strong>\u00a0(7.5%) at \u00a347,165, and\u00a0Newcastle upon Tyne<\/a><\/strong>\u00a0(7.2%) at \u00a313,721.<\/p>\n

Brighton<\/a><\/strong>\u00a0tops the ranking for the highest proportion of discounted homes, with 46.6% of properties marked down in price.\u00a0The south coast town\u00a0is followed by\u00a0Woking<\/a><\/strong>\u00a0at 46%, and Mitcham at 45.9%.<\/p>\n

In the capital, 39.5% of\u00a0London property listings<\/a><\/strong>\u00a0have been reduced in price \u2013 up from 34.6% in April. The average property in the city has been discounted by \u00a364,661, or 6.9%.<\/p>\n

Want to know more?\u00a0These tables show the nitty-gritty\u2026<\/h3>\n

Top 10 areas with largest percentage price reductions<\/strong><\/em><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

Town<\/h3>\n<\/td>\n

\n

Average price reduction<\/h3>\n<\/td>\n

\n

Average price reduction<\/h3>\n<\/td>\n

\n

Reduced properties on the market<\/h3>\n<\/td>\n<\/tr>\n

1.<\/td>\nBradford<\/td>\n7.8%<\/td>\n\u00a310,738<\/td>\n37.1%<\/td>\n<\/tr>\n
2.<\/td>\nMitcham<\/td>\n7.5%<\/td>\n\u00a347,165<\/td>\n45.9%<\/td>\n<\/tr>\n
3.<\/td>\nNewcastle upon Tyne<\/td>\n7.2%<\/td>\n\u00a313,721<\/td>\n38.6%<\/td>\n<\/tr>\n
4.<\/td>\nDoncaster<\/a><\/strong><\/td>\n7%<\/td>\n\u00a313,915<\/td>\n34.5%<\/td>\n<\/tr>\n
5.<\/td>\nBolton<\/a><\/strong><\/td>\n7%<\/td>\n\u00a315,874<\/td>\n37.3%<\/td>\n<\/tr>\n
6.<\/td>\nLondon<\/td>\n6.9%<\/td>\n\u00a364,661<\/td>\n39.5%<\/td>\n<\/tr>\n
7.<\/td>\nChesterfield<\/a><\/strong><\/td>\n6.8%<\/td>\n\u00a316,567<\/td>\n38.6%<\/td>\n<\/tr>\n
8.<\/td>\nBlackburn<\/a><\/strong><\/td>\n6.8%<\/td>\n\u00a38,893<\/td>\n34.8%<\/td>\n<\/tr>\n
9.<\/td>\nLiverpool<\/a><\/strong><\/td>\n6.8%<\/td>\n\u00a313,078<\/td>\n28.5%<\/td>\n<\/tr>\n
10.<\/td>\nBlackpool<\/a><\/strong><\/td>\n6.7%<\/td>\n\u00a310,113<\/td>\n38.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Top 10 areas with highest proportion of asking price reductions<\/strong><\/em><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

Town<\/h3>\n<\/td>\n

\n

Reduced properties on the market<\/h3>\n<\/td>\n

\n

Average price reduction<\/h3>\n<\/td>\n

\n

Average price reduction<\/h3>\n<\/td>\n<\/tr>\n

1.<\/td>\nBrighton<\/td>\n46.6%<\/td>\n6.4%<\/td>\n\u00a328,122<\/td>\n<\/tr>\n
2.<\/td>\nWoking<\/td>\n46%<\/td>\n6.4%<\/td>\n\u00a334,845<\/td>\n<\/tr>\n
3.<\/td>\nMitcham<\/td>\n45.9%<\/td>\n7.5%<\/td>\n\u00a347,165<\/td>\n<\/tr>\n
4.<\/td>\nSlough<\/a><\/strong><\/td>\n45.8%<\/td>\n5.8%<\/td>\n\u00a331,732<\/td>\n<\/tr>\n
5.<\/td>\nSutton<\/a><\/strong><\/td>\n45.4%<\/td>\n5.9%<\/td>\n\u00a325,228<\/td>\n<\/tr>\n
6.<\/td>\nReading<\/a><\/strong><\/td>\n44.6%<\/td>\n5.9%<\/td>\n\u00a326,478<\/td>\n<\/tr>\n
7.<\/td>\nBasingstoke<\/a><\/strong><\/td>\n43.8%<\/td>\n5.8%<\/td>\n\u00a321,866<\/td>\n<\/tr>\n
8.<\/td>\nHarrow<\/a><\/strong><\/td>\n43.3%<\/td>\n6%<\/td>\n\u00a329,066<\/td>\n<\/tr>\n
9.<\/td>\nTwickenham<\/a><\/strong><\/td>\n43.3%<\/td>\n6.7%<\/td>\n\u00a344,218<\/td>\n<\/tr>\n
10.<\/td>\nCroydon<\/a><\/strong><\/td>\n43.1%<\/td>\n6.6%<\/td>\n\u00a325,615<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Top 10 London boroughs with largest\u00a0percentage\u00a0price reductions<\/strong><\/em><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

Borough<\/h3>\n<\/td>\n

\n

Average price reduction<\/h3>\n<\/td>\n

\n

Average price reduction<\/h3>\n<\/td>\n

\n

Reduced properties on the market<\/h3>\n<\/td>\n<\/tr>\n

1.<\/td>\nKensington & Chelsea<\/a><\/strong><\/td>\n8.2%<\/td>\n\u00a3127,394<\/td>\n39.7%<\/td>\n<\/tr>\n
2.<\/td>\nWestminster<\/a><\/strong><\/td>\n7.9%<\/td>\n\u00a3126,056<\/td>\n39.7%<\/td>\n<\/tr>\n
3.<\/td>\nHammersmith & Fulham<\/a><\/strong><\/td>\n7.5%<\/td>\n\u00a379,020<\/td>\n37.4%<\/td>\n<\/tr>\n
4.<\/td>\nLambeth<\/a><\/strong><\/td>\n7.4%<\/td>\n\u00a363,616<\/td>\n43.2%<\/td>\n<\/tr>\n
5.<\/td>\nWandsworth<\/a><\/strong><\/td>\n7.3%<\/td>\n\u00a369,690<\/td>\n43.5%<\/td>\n<\/tr>\n
6.<\/td>\nCamden<\/a><\/strong><\/td>\n7%<\/td>\n\u00a378,373<\/td>\n41.3%<\/td>\n<\/tr>\n
7.<\/td>\nEaling<\/a><\/strong><\/td>\n7%<\/td>\n\u00a362,357<\/td>\n39%<\/td>\n<\/tr>\n
8.<\/td>\nRichmond upon Thames<\/a><\/strong><\/td>\n7%<\/td>\n\u00a357,171<\/td>\n43.4%<\/td>\n<\/tr>\n
9.<\/td>\nMerton<\/a><\/strong><\/td>\n6.9%<\/td>\n\u00a344,995<\/td>\n45.2%<\/td>\n<\/tr>\n
10.<\/td>\nCroydon<\/td>\n6.8%<\/td>\n\u00a332,351<\/td>\n43.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

More than a third of British properties have been slashed in price \u2013 by an average of \u00a326,131, or 8.5%. According to the latest data from Zoopla, 38% of properties on the market have been reduced in price. That\u2019s a 5% increase since April. The biggest percentage reductions over the last six months have been […]<\/p>\n","protected":false},"author":7,"featured_media":1159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4,6,7],"tags":[],"class_list":["post-568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ask-the-experts","category-editors-pick","category-renovations","category-tips-advice"],"_links":{"self":[{"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=568"}],"version-history":[{"count":1,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/568\/revisions"}],"predecessor-version":[{"id":867,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/568\/revisions\/867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=\/wp\/v2\/media\/1159"}],"wp:attachment":[{"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bricksandmortarmagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}