Propertiesinleafy central London areas that typically cost millions ofpounds are nowselling atan averagediscountof 10.8 per cent to the asking price, according toLonRes.
Trulia even tracks local price reduction trends like percentage of properties with price cuts, average discounts and average number of days before a cut.
That way, we can calculate the average rent and asking price for an identical set of properties in a metro area , for a direct apples-to-apples comparison.