These are the areas of Northern England with bargain house price reductions

0
Have your say

Newcastle upon Tyne, Bolton and Blackpool are among the best value areas in the North of England to buy a home, having seen huge percentages slashed off their original asking price, new analysis has found.

According to data from property website Zoopla, nearly two in every five homes on the market in these areas have had their original asking price dropped, with the average discount standing at more than £26,000.

Nearly two in every five homes on the market have had their original asking price dropped, according to Zoopla

Nearly two in every five homes on the market have had their original asking price dropped, according to Zoopla

Plummeting prices

Some 37.9 per cent of homes for sale in the UK have had their asking price reduced – an increase from 32.4 per cent when research was previously carried out in April.

Newcastle upon Tyne was named among the top 10 areas with the biggest asking price reductions, alongside Bolton, Blackpool, Liverpool and Blackburn.

A total of 38.64 per cent of homes on the market in Newcastle upon Tyne have had their asking price reduced, with an average reduction of £13,721.

Newcastle upon Tyne, Bolton and Blackpool were named among the best value areas in the North of England to buy a home

Newcastle upon Tyne, Bolton and Blackpool were named among the best value areas in the North of England to buy a home

In Bolton, 39.46 per cent of homes have seen their original asking price slashed, with an average price drop of £13,914, while homes in Liverpool have dropped by an average of £13,078.

Market prices in Blackpool and Blackburn have plummeted by more than 38 per cent, with prices slashed by an average of £10,113 and £8,893 respectively.

The locations where house prices are non-negotiable

House-hunters in Manchester, York, Glasgow and Cardiff, meanwhile, may find prices harder to negotiate, with sellers in these areas the least likely to be offering any discount off the original asking price.

Across Britain, the average asking price discount on offer is £26,131, Zoopla data shows.

The top 10 areas with the biggest asking price reductions

Each area is listed with the average price reduction in percentage and cash terms, followed by the percentage of homes on the market that have had their original asking price reduced:

1. Bradford – 7.77%, £10,738, 37.09%

2. Mitcham – 7.45%, £47.165, 45.92%

3. Newcastle upon Tyne – 7.18%, £13,721, 38.64%

4. Doncaster – 7%, £13,915, 34.46%

5. Bolton – 6.97%, £64,661, 39.46%

6. London – 6.89%, £16,567, 38.55%

7. Chesterfield – 6.81%, £16,567, 38.55%

8. Blackburn – 6.78%, £8,893, 34.83%

9. Liverpool – 6.77%, £13,078, 28.51%

10. Blackpool – 6.70%, £10,113, 38.36%

The top 10 areas with the smallest proportion of homes on the market with the original asking price reduced

Each area is listed with the percentage of homes on the market which have been reduced, followed by the average asking price reduction in percentage and cash terms:

1. Glasgow, 18.84%, 6.24%, £9,613

2. Manchester, 25.87%, 6.46%, £15,070

3. Liverpool, 28.51%, 6.77%, £13,078

4. Sheffield, 30.11%, 6.46%, £13,022

5. Birmingham, 30.36%, 5.79%, £15,006

6. York, 31.72%, 5.66%, £17,835

7. Stoke-on-Trent, 32.40%, 6.05%, £13,647

8. Coventry, 32.55%, 6.22%, £18,717

9. Cardiff, 33.01%, 6.10%, £16,290

10. Hull, 33.66%, 6.68%, £9,195