According to Zoopla's latest report, UK property prices have been marked down £24,947 from its original asking price recently.
The portal analyzed listings on its website as of April and found that 32% of homes have been reduced, with the most significant discounts found on the Isle of Man, where the average price has been cut by 8.36%.
This was closely followed by Bradford and Doncaster which have seen average cuts of 8% and 7.1% respectively.
The London borough of Twickenham had the largest share of reduced price properties at 41.82%, followed by Mitcham where 41.5% of properties have had their prices cut.
Properties for sale in Enfield, Horsham and Aylesbury have been the most resistant, with asking price reductions of less than 5%
Lawrence Hall, a spokesman for Zoopla, said: “This should be welcome news for prospective first-time buyers looking to get a foot on the property ladder.
“Those seeking bargains could consider areas such as Bradford, Doncaster and Blackburn in particular, or Twickenham if you’re looking to live closer to the capital.”
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