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£20,000 cut from house prices by sellers

HOMEOWNERS have cut nearly £20,000 from the asking price of their properties in a bid to secure a sale, it has been claimed.

Those with a property on the market in the UK have taken an average of £19,580 off the price tag amid a difficult selling climate, researchers said.

A new study found sellers in Glasgow have cut their expectations the most comparatively with a drop of 9.16% recorded, or an average of £12,566 lost from the price tag. This compares to a national average of 7.5%.