Almost three-quarters of homes currently listed for sale in Merseyside remain at their original asking price, making it England’s most resilient county market for price reductions, according to Lyons Bowe.
Its analysis found that 27.2% of available homes in the county have undergone at least one reduction, meaning 72.8% have not required sellers to adjust their initial price.
Across England, 159,861 of the 393,752 homes currently available have been reduced — equivalent to 40.6% of listings. Properties already under offer or sold subject to contract were excluded.
The findings reveal significant local variation, with sellers across northern England generally proving more likely to maintain their asking prices.
NORTH WEST LEADS REGIONS
Greater Manchester and Northumberland jointly follow Merseyside in the county rankings, with 33.1% of listings reduced. Rutland stands at 33.6%, followed by the East Riding of Yorkshire at 34.3%.
At regional level, the North West records England’s lowest proportion of reduced properties at 32.4%. The North East follows at 36.8%, with Yorkshire and the Humber at 37.8%.
The West Midlands stands at 39.1%, while the East Midlands matches the national figure of 40.6%.
SOUTH RECORDS MORE REDUCTIONS
The South East has the highest proportion of reduced listings at 43.4%, followed by London at 42% and the East of England at 41.9%.
At county level, almost half of available properties in Norfolk have been reduced, at 48.2%. The Isle of Wight follows at 46.7%, ahead of East Sussex at 46.4% and Dorset at 45.5%.
LOCAL CONDITIONS MATTER
Paul Lyons (main picture, inset), Managing Director at Lyons Bowe Solicitors, says: “Merseyside is a particularly striking example. With more than seven in 10 homes currently listed for sale yet to undergo a price reduction, sellers in the county are proving considerably more resilient than the national picture would suggest.
“The wider performance of the North West is also encouraging, with the region recording the lowest proportion of price-reduced listings in England. For sellers and estate agents, that points to a market where there is still scope to hold firm on asking prices when a property is accurately valued and appropriately marketed.
“Of course, a price reduction isn’t in itself a measure of whether a market is strong or weak. Sellers may reduce their asking price for all sorts of reasons, and the figures don’t tell us how quickly properties are selling. What they do show is where sellers have so far been less likely to need to adjust their expectations.”
