Some 35 per cent of people looking to sell property are unwilling to drop the asking price, new research has revealed.

The Co-operative Bank has published a study that shows people in Scotland are the least likely to drop the stated price of a home when trying to sell it.

With property tax and other financial outlays such as home information packs, it would seem that there are a number of vendors who do not want to lose any more cash.

People selling property in the east midlands and Wales were the most likely to reduce the price of bricks and mortar, the survey suggests.

Holding firm with the asking price is a sign of confidence in the market - something the National Association of Estate Agents said had returned in recent months.

John Hughes, director of retail banking for The Co-operative Bank, commented: "With much speculation about green shoots of recovery in the housing market, the findings do indicate that consumer optimism is starting to return."

Written by Sarah Field

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