Fewer sellers are dropping their price than at any stage in the last three years, with the average reduction standing at just 6.1 per cent.
Asking prices are at their highest ever level for April, hitting an average of £244,706, new statistics from Rightmove reveal.
Mortgage lending fell during January, in a surprise setback for the industry.
Sellers chopped more than ever before off December's asking prices, a huge 3.3 per cent.
Asking prices fell dramatically during November, but it is in fact the least severe fall for three years.
The Olympic price lull is over as new seller asking prices skyrocket, say Rightmove.
Overpricing a property can drive most potential buyers away, even if sellers are prepared to negotiate downwards.
South West and London lead the way but annual increase still below the level of inflation, says Rightmove.
Almost £3bn cut from original prices of homes but proportion for sale at a discount has fallen, says Zoopla.co.uk.
Shortage of supply fuels prices in cash-rich sectors but beware of agents' hot air, says Rightmove.
One in three properties on the market have seen reductions in their asking price, says Zoopla.co.uk.
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