Home sellers drop asking prices 2.9 per cent

People planning to sell their homes in the UK have reduced the asking price for their properties by an average of 2.9 per cent, new research has found.

According to data from Rightmove released today (November 17th), the average asking price fell from £229,691 to £222,979 last month.

Miles Shipside, Rightmove's commercial director, said some sellers could avoid months of disappointment by marketing their properties at a price closer to house price indicators.

"While average asking prices have fallen by 7.1 per cent over the past year, in most parts of the country you should look to at least double that discount to achieve a sale," he added.

Launched in 2000, Rightmove now has more than 12,000 estate agency members (more than 90 per cent of all UK agencies), according to the company's official website.

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