It’s now a buyers’ market across much of the UK. In cities including London, Cambridge and Oxford, many sellers are accepting large discounts for their properties.
Data by Hometrack found that in some areas of central London, buyers are snapping up property with a 10 per cent reduction on the asking price. And with interest rates still low, now could be a good time to buy a home.
This all makes it tougher for homeowners who want to sell their existing home and trade up. Red tape and fickle buyers can also delay or derail plans.
But even in the current fragile market – where the number of active sellers and buyers is hovering around record low levels, according to the Royal Institution of Chartered…