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Reductions in asking prices for homes at a two-year low

The number of homes for sale which have had their prices reduced from the original valuation is at a two-year low, according to the property website, Zoopla.

Its research shows that 32.8% of properties on sale in November had seen a price reduction since first being put on the market. That was down from 40.4% in November 2011.

Lawrence Hall, a spokesman for Zoopla, said: "The proportion of properties that have seen their price reduced and the average amount of the discount provides good insight into the strength of the local market.

"With the proportion of discounted properties nationally at a two-year low, this would indicate that sellers are feeling more confident than they have for some time."

Meanwhile, the property analyst company Hometrack, reported a 0.1% fall in house prices in October. It said this was mainly due to sellers negotiating to attract buyers rather than a significant fall in demand.

Its research revealed that agreed sales across the country rose by 9.2% in October. That’s the strongest uplift since last Spring.

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