Research by eXp UK has revealed where homebuyers can find the most significant price reductions during the January sales, with Norfolk leading the way.
The analysis covered more than 322,000 homes listed for sale in England, focusing on the proportion of homes that experienced a reduction in asking price.
The figures indicated that 113,612 homes have had their asking prices cut, making up 35.3% of the total market for sale stock.
Norfolk emerged as the top area, with 44.6% of homes currently listed seeing a price reduction.
The Isle of Wight ranked second, with 40% of homes listed having experienced a price cut.
East Sussex was third, with 39.2% of homes seeing a reduction to attract buyers.
Other areas in 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%).
On the other hand, homebuyers in Northumberland had the lowest likelihood of finding price-reduced properties, with only 28.5% of homes listed currently seeing a price cut.
Adam Day, head of eXp UK, said: “January can be a great time to bag a bargain in the sales and whilst a property is a pretty sizeable 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.
Day added: “This countdown is sure to drive buyer activity and, as it does, prices are likely to climb too.
“So if you are in the market for a property, acting sooner, rather than later, could see you save on your purchase.”
