Here is the real number before the fun starts. According to data shared with the BBC, more home asking prices (the figure a seller advertises, which is an opening bid rather than a guaranteed sale price) are being cut than at any point in 15 years, roughly 3,000 a day. That is a lot of people quietly admitting the market has moved on without them.
The sport is in the scoring. In the qualifying round, a three-bedroom semi in Leeds dropped £20,000, and its owner posted a photo of the new price with a single crying emoji. In the freestyle, a flat in Bristol went down £45,000 over one weekend, then was relisted with the words ‘MOTIVATED SELLER’ in capital letters, which is estate agent for ‘please.’ The judges, mostly buyers, gave it a 4.8 for effort.
Why this matters to you: if you are buying, this is the first decent negotiating window in years, because sellers can no longer hold out for last year’s number. Make a fair offer, expect a counter, and do not fall in love with the kitchen, because there is another one on the same street. If you are selling, cutting early and in measured steps usually beats the dramatic 15 per cent drop on a Friday afternoon. The gold medal goes to the house that actually sells, not the one that wins the sympathy vote.