Price cutting is becoming the new norm as the market adapts to reduced demand according to Home.co.uk

October 16, 2018

Latest Home.co.uk Asking Price Index report – October 2018 headlines ‘Price cutting hits 7-year high as vendors’ patience wanes’.

The report reveals that overall, supply of property for sale in the UK is up by 6% and the total stock for sale has increased by 10.7% year-on-year.
In October 2017, the annualised rate of increase of home prices was 3.3%; today the same measure is just 0.6% and is trending to zero (and below).

Slower housing market conditions have triggered the classic response from sellers. Price cutting is becoming the new norm as the market adapts to reduced demand, according to Home.co.uk October Asking Price Index.

Doug Shephard, Director at Home.co.uk, said:

“The market correction is now well underway. This month another key region, the East of England, joined the year-on-year negative club and the South West is applying for membership.

“Looking at the 7-year growth figures, it appears that London and the East of England have the furthest to fall in this downturn, having notched up ludicrous growth of 53% and 48% respectively.” more……

Read the Home.co.uk Asking Price Index report October 2018 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

A third of Britons aspire to own buy-to-let properties, new study finds

Nationally representative survey of 2,000 UK adults reveals: 33% want to own a buy-to-let property in the future 60% believe property investment is a good way of building long-term wealth 37% would rather invest in a BTL property over stocks and shares   A third of UK adults aspire to own a buy-to-let (BTL) property,…
Read More →
Breaking News

UK house prices growing by 2.5% according to Halifax

Nathan Emerson, CEO of Propertymark: “This slight dip in house prices will likely have been influenced as a direct consequence to the current state of the global economy. There will always be a need for people to move house regardless of international trading relations; however, many aspiring or current homeowners will no doubt be discouraged…
Read More →
Breaking News

UK house prices dip slightly in May, but market remains steady

Average property price now £296,648 compared to £297,798 last month Annual rate of growth slows to +2.5% from +3.2% in April Overall house prices have remained stable so far this year Northern Ireland continues to lead annual price growth in the UK Amanda Bryden, Head of Mortgages, Halifax, said: “Average UK house prices fell by…
Read More →
Breaking News

Estate Agent Content

Do you think that your estate agency / property business requires content? Is content marketing still a thing in 2025? Are you concerned if anyone will read your words? Is it worth investing in estate agent content? Businesses with blogs generate 67% more leads than those without. As competition for attention online increases it remains…
Read More →
Breaking News

The cost of voids rises by £200 for England’s landlords

The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that landlords have been hit with a 26% increase in the cost of void periods in the past year, equivalent to lost income of almost £200. Dwelly analysed average void period data from March 2024 and March…
Read More →
Breaking News

Breaking Property News 5/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Demand Rises for Housing and Infrastructure Projects Rising demand for housing, infrastructure and energy projects across Wales has driven continued growth at Lichfields’ Cardiff office, which this year marks 25 years in the capital. The team of 17 planning professionals is one of the largest…
Read More →