More than a third of all homes on the market have seen a price reduction so far this month, claims eXp UK.
The company says it has undertaken research that shows that which areas of the nation homebuyers stand the best chance of securing a discount, with Norfolk topping the table having seen the most properties reduced in asking price over the past 10 days.
eXp UK says it analysed more than 322,000 homes currently listed for sale across the market in England, looking at what proportion of this stock has seen an asking price reduction.
The data reveals that 113,612 homes have seen a reduction in asking price in the current market, equating to some 35.3% of total market for sale stock.
Norfolk is home to the best chance of securing a discount, with 44.6% of all homes currently listed on the market having seen an asking price reduction.
The Isle of Wight is home to the second strongest chance of bagging a January sale property purchase, with 40% of all homes currently listed for sale having seen a price cut.
East Sussex completes the top three where 39.2% of all homes have seen a price cut in order to tempt buyers into a January property purchase.
Other areas to make the top 10 include Lincolnshire (38.9%), Herefordshire (38.9%), West Yorkshire (38.4%), Nottinghamshire (38.3%), Dorset (38.2%), Rutland (38.2%) and Hampshire (38.1%).
In contrast, homebuyers in Northumberland have the slimmest chance of bagging a price reduced property in the January sales, with just 28.5% of all homes listed for sale in the current market having seen a price reduction.
Adam Day, head of eXp UK, commented: “January can be a great time to bag a bargain in the sales and whilst a property is a pretty sizable purchase, our research shows that there are a good proportion of homes currently on the market that have seen an asking price reduction in order to entice buyers.
“However, this might not be the case for long, with the clock now ticking with respect to current stamp duty relief thresholds which increase as of 1st April this year.
“This countdown is sure to drive buyer activity and, as it does, prices are likely to climb too.”
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