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Asking prices for homes plunge to lowest level in five years

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Asking prices for homes plunge to lowest level in five years

Tim Bannister, of Rightmove, said: “Homes that are priced right the first time, rather than priced too high only to be reduced later, are not only more likely to find a buyer, but more likely to find a buyer quickly.

“This supports local agent reports of a two-speed market, with some properties for sale being overpriced and at risk of going stale, and many competitively priced homes which are attracting multiple prospective buyers.”

Properties that are priced competitively from the outset find a buyer in 27 days on average – less than half the average 66 days taken to find a buyer if the home requires an asking price reduction after it has come to market.

The number of available properties is currently 10pc lower than in 2019, indicating that many would-be sellers are holding off until market conditions improve.

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August is typically a slower month in the property market because many people go on holiday, but this year it has fared worse than usual.

The last time there was such a steep monthly plunge was in December of last year, owing to a rise in mortgage rates following the mini-Budget.

Mortgage rates had started to come down earlier this year, but stubbornly-high inflation has pushed up expectations for the Bank Rate, with lenders being forced to price in higher interest rates. 

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CryptoCurrency

Coinbase’s cbBTC surges to third-largest wrapped BTC token in just one week

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Coinbase’s cbBTC surges to third-largest wrapped BTC token in just one week


According to data from CryptoQuant, cbBTC circulation supply has outpaced long-established players seven days after launch. 



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Bitcoin options markets reduce risk hedges — Are new range highs in sight?

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Bitcoin options markets reduce risk hedges — Are new range highs in sight?


Bitcoin options market positioning shifted as BTC price shot through the $60,000 to $63,000 level. 



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CryptoCurrency

Ethereum is a 'contrarian bet' into 2025, says Bitwise exec 

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Ethereum is a 'contrarian bet' into 2025, says Bitwise exec 


Ether price could be on track for another correction into a triple-bottom, marking the beginning of a big rally into 2025.



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Blockdaemon mulls 2026 IPO: Report

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Blockdaemon mulls 2026 IPO: Report


Other Web3 infrastructure platforms, such as Circle, are also mulling IPOs.



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SEC asks court for four months to produce documents for Coinbase

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SEC asks court for four months to produce documents for Coinbase


The financial regulator requested an extension until February 2025 to review “at least 133,582 unique documents” as part of discovery motions with Coinbase.



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‘Silly’ to shade Ethereum, the ‘Microsoft of blockchains’ — Bitwise exec

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‘Silly’ to shade Ethereum, the ‘Microsoft of blockchains’ — Bitwise exec


Ethereum is still home to the most active crypto developers and is the most attractive chain to build applications on top of for big companies, argues Bitwise’s Matt Hougan.



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