THE NUMBER of high-end homes being sold as full-price has surged in the past year, in another sign of recovery in the UK housing market, according to research out yesterday by PrimeLocation.com.
The proportion of £1m-plus homes that are currently for sale and have had their asking price discounted from its original level has fallen to 18 per cent, down from 27 per cent one year ago and at its lowest level since summer 2010.
The average price reduction on prime properties across the UK now stands at 8.7 per cent.
“The drop...has been a significant one, indicating that at the top end of the market sellers are generally feeling a lot more bullish now than they were this time last year,” Lawrence Hall of PrimeLocation.com explained.
The smallest price reductions were seen in Walton-on-Thames and Guildford, while at the other end of the scale, homeowners in Bath and Edinburgh are reducing their prices more than anywhere else in the UK.