Hometrack: Sellers Get Only 88.9 percent of Asking Price

According to property research company Hometrack in November sellers had to take off almost 11 percent from the asking prices before they got a buyer, highlighting the property crisis is still deepening.

Just 18 months ago the asking price was dropped to an average of 95.7 percent to attract buyers according to Hometrack.

The information shows what drastic measure homeowners have to go to get a buyer for their property.
Nationwide Building Society, said in a report last week that house prices have dropped £25,000 in less than a year and that the decrease in property prices have continued for the last 13 months consecutively

However the Hometrack survey suggests that house prices have dropped 8.1 percent compared to a year ago putting the average house price today at £161,400 reporting less severe figures than Nationwide.

Source: Telegraph