Zoopla said that discounts had been absent from the market during 2021 and the first half of this year but the tougher economy was now taking a toll on activity.
Falling demand and sales meant that current sellers were having to set asking prices at more realistic levels to secure buyer interest, its market report said.
Since the start of September, 25% of properties on the market had their asking prices reduced from the original value, it said, with 11% discounted by 5% or more.
