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Steepest U.K. House-Price Discounts
Home sellers cut August asking prices by the most on record
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U.K. home sellers are offering the deepest summer price cuts on record as they try to get rid of their homes during the holidays. Across the country, the average August asking price fell 2.3 percent from July, according to property website Rightmove’s housing index, with an even steeper drop of 3.1 percent in London. While it’s common for sellers to cut prices over the summer, this year’s August drop is the steepest since Rightmove started publishing data toward the end of 2001.