Thousands of property sellers across Britain are slashing their asking prices within days of listing their homes as the housing market slows to a crawl ahead of the Autumn Budget, according to new research from Springbok Properties.
The firm’s analysis found that 5,559 homes have seen their asking price reduced within 30 days of hitting the market — equivalent to 6.2% of all new listings. Property professionals say the data highlights the deepening standoff between sellers and buyers amid high borrowing costs and fragile consumer confidence.
England accounted for the overwhelming majority of quick-fire price cuts, with 5,258 sellers reducing their asking prices within a month — 6.4% of total listings.
In Scotland, 183 homes (3.9%) saw reductions, while Wales recorded 158 (4.1%).
At city level, Bristol led the rankings, with 9.8% of newly listed homes seeing a price reduction within 30 days. Bradford (8.2%) and London (7.1%) followed closely, with the capital also recording the highest total number of reductions — 1,225 properties across the city.
Other notable markets included Leicester (6.4%), Birmingham (6.3%), and Brighton (6.2%), while Liverpool (2.9%) and Edinburgh (3.3%) saw the lowest proportion of cuts.
A Springbok spokesperson said the findings reflected mounting nervousness among buyers and sellers alike: “Home sellers are finding it increasingly difficult to secure a sale as the market grinds to a halt ahead of the Autumn Budget and buyers adopt a wait-and-see mentality. Price reductions within the first 30 days are a common tactic to generate interest, but even that isn’t proving effective in the current climate.”
The company warned that many vendors are being forced to compromise on price expectations to attract offers, but with limited success as high mortgage rates and economic uncertainty continue to dampen demand.
For cash-rich investors and professional landlords, however, the growing number of early-stage price cuts could represent an opportunity.
“While the wider market is hesitant, conditions are ideal for opportunistic investment buyers who can move quickly and negotiate further reductions,” Springbok added.
Estate agents are now pinning hopes on fiscal measures in the 26 November Autumn Budget to inject confidence into the market — potentially through incentives for first-time buyers or targeted relief on stamp duty.
But experts warn that unless borrowing costs ease or household incomes improve, the pattern of rapid post-listing price reductions could become the new normal in a housing market still struggling to find its footing.
