Business is blooming at Newfoundland flower shops this Mother's Day - CBC

Skip to Content Subscribe FAQ My Account Manage My Subscriptions Our Offers News Local News Politics Health Local Health National True Crime Crime World Education Weather Podcasts BC Public Sector Salaries Database Archives Contact the Newsroom Sports Vancouver Canucks NHL PWHL More Hockey BC Lions CFL NFL Vancouver Whitecaps Soccer Baseball Basketball NBA Golf MMA Curling Tennis Auto Racing Arts Local Arts Music Theatre Festivals Books Celebrity Movies Television TV Listings Life Travel Local Travel Travel Canada Travel USA Travel International Cruises Travel Essentials Food Local Food Reviews Recipes Wine Country Salut!

Home sellers cut asking prices on more than 3,000 properties a day on average in Britain during September, according to figures from Rightmove shared exclusively with the BBC. The property website said the total was the highest of any month for 15 years and was driven, in part, by a glut of homes on the market and some sellers setting unrealistic expectations. The proportion of listed homes that eventually had a price cut peaked in 2023 and has remained relatively high since. Property portals say buyers are now having to be choosy, with many working to a tight budget as mortgage rates have risen to three-year highs. "Once a home has been on the market for a while and then has a price reduction, some buyers start asking questions, even when there is nothing wrong with the property," said Colleen Babcock of Rightmove. "In a market with so much choice, first impressions matter. "Rightmove data said the average price reduction was nearly 7% - the equivalent of nearly £21,000 cut from a typically valued home. Its data showed that homes that had a price reduction typically took 119 days to find a buyer, compared with 39 days for those listed at one price.

Soaring freight is forcing oil producers into discounts, pushing delivered prices towards $140/bbl in China and prompting producers to absorb more transport costs to secure buyers. India is attracting more Brazilian and West African barrels as shorter voyages improve sellers’ returns, while Chinese refiners hold out for cheaper deliveries.