More than 100,000 homes for sale had their asking price lowered last month, the highest recorded for six years, a new report has highlighted.

The number of reductions hit 104,794, which is more than in any April since 2019, according to data firm TwentyEA.

And there have been 388,000 asking price drops so far this year, which is 20% higher than the same time last year.

The total number of reductions can be misleading as there were more properties on the market, and the percentage which have suffered a lower price change is the same at around 38%.

LARGEST PERCENTAGE

The South East currently has the largest percentage of price reductions with 42.1% of all properties.

Katy Billany (main image), Executive Director of TwentyCi, which owns TwentyEA, says: “While price reductions have been an ongoing trend, it’s particularly notable how many were recorded in April, coinciding with the end of the reduced Stamp Duty rate on March 31.

“We’ll be closely monitoring whether this regulatory change leads to further reductions and a broader cooling of the market.

DEMAND STRONG

“So far this year, however, demand has remained strong. Over 437,000 sales have been agreed – 7.1% higher than in 2024 – marking the highest demand level since 2022,” she says.

“The strongest growth in demand has been seen in the North West (12.0%) and Wales (10.0%), with year-on-year increases across all price bands. The highest growth was in the £350k–£1m range (10.8%), followed by £200k–£350k (9.2%).”

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