The Zoopla blog as a Wordle

February 21, 2011 at 10:09 AM Leave a comment

Locations with the most reduced property asking prices

Barnt Green, Birmingham - 20.4% reduction in price since coming to market

Our latest research shows that both the total number of ‘price-reduced’ properties on the market in the UK and the average amount by which they have been reduced have climbed over the past 3 months.

Key points:

  • Average asking price reduction climbs 16.3% over last 3 months to £18,475
  • 37.4% of all properties on market today have been reduced at least once
  • Average discount to original price now at 6.9%, up from 6.1% 3 months ago

As a result of weaker than expected demand in the last half of last year, those selling property have progressively reduced asking prices to more realistic levels in order to secure a buyer. The traditional influx of new properties on the market at the start of the year has created even more intense competition amongst sellers. Even the resilient £1m+ market is showing signs that it is not immune from the general economic pressures as reductions have jumped at that end of the market as well.

The findings show that, 37.4% of all properties listed for sale today have experienced at least one price reduction since coming to the market (up from 36.4% in November) and the average discount now stands at £18,475 or 6.9% off the original asking price (up from £15,879 or 6.1% in November).

Below are the areas with the most / least asking price reductions and areas with the hightest / lowest average asking price reductions.

Handy tip: Zoopla allows you to sort your search results by properties that are most-reduced in price and is proving a real hit amongst property hunters. Why not give it a go…

Top 10 Areas with Most House Price Reductions

Rank Location % of Homes on Market Reduced Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
1 Birmingham 48.4% -7.1% -£11,547
2 Swindon 46.8% -6.6% -£13,330
3 Norwich 46.6% -6.7% -£15,198
4 Coventry 46.4% -7.6% -£11,825
5 Bournemouth 44.1% -6.8% -£17,425
6 Doncaster 44.0% -7.0% -£12,318
7 Wolverhampton 44.0% -6.5% -£9,366
8 Chesterfield 43.6% -6.3% -£8,927
9 Derby 42.7% -6.9% -£11,726
10 Poole 42.7% -6.6% -£26,498

Source: Zoopla.co.uk

Top 10 Areas with Highest Average Asking Price Reductions

Rank Location Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
% of Homes on Market Reduced
1 Bolton -8.0% -£11,287 38.6%
2 Newcastle -8.0% -£17,641 30.5%
3 Rotherham -7.9% -£10,457 39.8%
4 Liverpool -7.9% -£12,936 35.5%
5 Maidstone -7.8% -£18,116 42.0%
6 Ashford -7.7% -£18,104 39.2%
7 Warrington -7.7% -£15,086 38.5%
8 Glasgow -7.6% -£10,340 40.4%
9 Coventry -7.5% -£11,825 46.4%
10 Manchester -7.5% -£11,937 32.8%

Source: Zoopla.co.uk

Top 10 Areas with Least House Price Reductions

Rank Location % of Homes on Market Reduced Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
1 Chorley 24.1% -6.7% -£15,028
2 Newcastle 30.5% -8.0% -£17,641
3 York 31.5% -6.1% -£21,422
4 London 31.8% -6.6% -£45,664
5 Hull 32.5% -7.1% -£8,230
6 Manchester 32.8% -7.5% -£11,937
7 Stoke-on-Trent 33.2% -6.1% -£8,261
8 Wakefield 33.4% -6.4% -£12,809
9 Wigan 33.6% -6.7% -£8,853
10 Cardiff 34.1% -5.8% -£16,674

Source: Zoopla.co.uk

Top 10 Areas with Lowest Average Asking Price Reductions

Rank Location Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
% of Homes on Market Reduced
1 Chelmsford -5.3% -£15,779 34.2%
2 Luton -5.7% -£11,238 40.7%
3 Cardiff -5.8% -£16,674 34.1%
4 York -6.1% -£21,422 31.5%
5 Stoke-on-Trent -6.1% -£8,261 33.2%
6 Northampton -6.1% -£11,377 41.7%
7 Leeds -6.3% -£12,074 35.6%
8 Chesterfield -6.3% -£8,927 43.6%
9 Wirral -6.3% -£11,600 42.1%
10 Brighton -6.3% -£21,716 38.1%

Source: Zoopla.co.uk

Here is the full list of 50 key locations with property price reductions and the full property price reduction research

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

February 17, 2011 at 2:18 PM 3 comments

Ashton Kutcher puts LA “bach” pad on the market … for a good cause

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

Nice guy Hollywood toyboy Aston Kutcher has put his LA bachelor pad on the market. The actor and producer, who married Demi Moore in 2005, purchased the property in 2004 for $US1 million.

Now, the 33-year-old, who’s as famous for his twitter persona @aplusk as his starring roles on screen, is selling the home, with a cut of the proceeds to benefit the Demi and Ashton Foundation (DNA), which raises awareness about child sex slavery and helps in the rehabilitation of the victims. Kutcher has also offered tours of the home and is selling off some of the furniture he’s used for staging events there – all in aid of DNA.

The four bedroom two-storey home in Los Angeles is thought to be very close to Kutcher’s heart, with Zillow.com reporting that he and his dad Larry rebuilt the house as a father-son project. The actor never moved into the property, instead marrying Moore.

“This house is close to my heart, since my dad and I spent a lot of time planning, visualizing and renovating the entire property,” Kutcher says.

At 3,235 square foot, the home is modest by celebrity standards. Although FindaProperty is pleased to see there’s still more than a touch of celebrity star dust sprinkled about – an infinity-edge spa  spills into an infinity-edged pool which spills into an infinity-edged waterfall. There’s also a wine “tower” room and a professional home theatre.

The property is for sale through Gary Gold of Hilton and Hyland for $US2.6 million.

February 17, 2011 at 1:21 PM 2 comments

A room with a view

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

FindaProperty just loves a watery vista so we couldn’t go past this absolute cracker, courtesy of this four bedroom home in Chiswick, west London.

The rest of the property is rather nice too – there’s a reception room which opens up to a balcony (from with the aforementioned views across the Thames and Kew Bridge can be seen). Inside the home, it’s bright and airy with bags of modern touches.

It’s perfect too for those with green thumbs – there’s a garden included – plus you’re only a short skip away from world famous Kew Gardens.

The property is on the market through Foxtons for £1.295 million.

February 17, 2011 at 12:08 PM 1 comment

Win tickets to the Ideal Home Show

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

FindaProperty.com has 25 pairs of tickets to give away to the Ideal Home Show which returns to London’s Earl’s Court in March.

This high profile show is a must visit for anyone planning to improve, renovate or refurbish their home. The Ideal Home Show will feature eight separate sections including interiors, home improvements, gardens, food, shopping and gadgets as well as a special women’s section.

Some of your favourite celebrities will also be on hand to help with inspiration and advice, including broadcaster and TV personality Fiona Phillips, architect and TV presenter George Clarke, interiors expert Linda Barker, gadget girl Suzi Perry and Masterchef host Greg Wallace. FindaProperty’s own Nigel Lewis will also be speaking at the show.

As the official property partner of the event, FindaProperty.com has 25 pairs of tickets to the event to give away.

To find out how to enter, visit the FindaProperty website.

The Ideal Home Show is on at London’s Earl’s Court from March 11-17. Tickets can either be booked online or by calling the Ticket Hotline on 0844 415 4144.

Terms and conditions

1. This promotion is open to residents of the UK only. Under 16s should obtain permission of a parent or guardian to enter.

2. Not open to employees and families of The Digital Property Group, Ideal Home Show or anyone else connected with the creation or administration of the competition.

3. Entries will be chosen at random and will win two complimentary tickets to Ideal Home Show at London’ Earl’s Court for use one day between March 11 – 27, 2011. The winners must make their own way to the event.

4. By participating in the competition you consent to The Digital Property Group disclosing any personal information submitted by you to the Promoter for use by the Promoter and its authorised agents as necessary to administer the promotion. Any personal data submitted by you will be used solely in accordance with current UK data protection legislation and the privacy policies of The Digital Property Group.

5. There is no responsibility taken for entries lost, delayed or incomplete, or incorrect email or postal addresses.

6. Winners will be selected from all the entries received by the Promoter.

7. The decision of the judges is final.

8. Winners will be announced on or after Thursday February 24 2011 and be contacted by email and receive tickets in the post.

9. A full list of winners will be available by writing to Samantha Baden, The Digital Property Group, Hammersley House, 5-8 Warwick Street, London W1B 5LX.

10. Winners may be required to participate in any subsequent publicity as deemed appropriate by The Digital Property Group.

11. In the event that, due to the acts or omissions of the winner, the Promoter is unable to deliver the prize to the winner, said winner will forfeit the prize and no substitute or alternative will be available.

12. The prize is non-transferable with no cash alternative and no additional prizes will be available.

13. The Digital Property Group reserves the right to substitute the prizes offered (such prizes will be of equal or greater value).

14. Correspondence regarding the Competition will be entered into only at the absolute discretion of the Promoter. All enquiries regarding the Competition should be sent to the Promoter’s address, indicated at the end of these Terms and Conditions.

15. Events may occur that render the competition itself or the awarding of the prize impossible due to reasons beyond the control of The Digital Property Group and accordingly The Digital Property Group may at its absolute discretion vary or amend the competition and the entrant agrees that no liability shall attach to The Digital Property Group as a result thereof.

16. Promoter: The Digital Property Group Limited, Northcliffe House, 2 Derry Street, London W8 5TT. Winners will be selected from all valid entries received by the Promoter.

February 17, 2011 at 10:37 AM Leave a comment

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