Desperate sellers slash house prices 2.9%

According to the latest index published by Rightmove, sellers have cut prices by 2.9% so far in November, taking the average asking price to £222,979. Just 80,000 sellers put their properties on the market between 11 October and 8 November, the lowest figure recorded by Rightmove since 2002, with the firm suggesting those that are hoping for a price recovery are delaying listing the properties. Miles Shipside, commercial director at Rightmove, says: "Some sellers could avoid months of disillusionment and despair if they started marketing at an asking price a lot closer to where the evid...