Economics
London Home Sellers Offer Ever-Growing Discounts
- Inner London buyers got 7.6% price cut on average, Zoopla says
- Some neighborhoods saw a smaller share of discounted homes
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London homebuyers are getting the biggest discounts in at least six years, according to data from Zoopla.
The average reduction on a home in 13 inner London boroughs jumped to 7.6% in the first quarter, up from 7% a year earlier, the property-search website said in a report Wednesday. The residential real estate market in the U.K. capital has been stung in recent years by the introduction of new taxes and the uncertainty surrounding Brexit.