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Britain’s sellers cut home asking prices, but buyers’ budgets shrink too
September brought the largest monthly number of asking-price cuts in 15 years. Buyers have more room to negotiate, but rising mortgage costs limit what they can pay.
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- Trying to sell his late father’s home in south Wales, one owner described a market crowded with competing properties and short of buyers. “Lots for sale; no-one buying,” he told the BBC. His experience is not a national measurement, but it captures the predicament behind Britain’s latest housing figures: a home can remain unsold even after its owner lowers expectations, leaving the next step unresolved.
