UK Property Sellers Cut Asking Prices for First Time This Year.

(Bloomberg) -- UK property sellers cut their asking prices for the first time this year, an indication that a sharp jump in borrowing costs is cutting in on what buyers can afford to pay. "First-time buyers, trader-uppers and downsizers with higher deposits and lower mortgage requirements appear to be still keenly searching the market, not wanting to miss out on the right property that is not over-priced and that they can still afford", Bannister said. [Extracted from the article]