39% of UK homeowners negotiated a discount on their property purchase, research from the HomeOwners Alliance (HOA) has found.
The survey showed that one in five buyers (20%) secured up to 5% off the asking price, while 14% achieved discounts between 5% and 10%, and 6% negotiated more than 10% off.
Meanwhile, 39% paid the full asking price, and 10% paid over asking – often through competitive “best and final” or sealed-bid offers.
First-time buyers were less likely to negotiate, with only 35% paying below asking price, compared with 42% of existing homeowners who had bought before.
According to Zoopla data, homes that require a price reduction take 2.4 times longer to sell than those priced correctly from the start.
Overpricing, the report warned, can deter serious buyers and lead to costly delays.
Paula Higgins, CEO of the HomeOwners Alliance, said: “Buyers clearly have more room to negotiate right now – but don’t just guestimate your offer.
“Do your homework: use an online valuation tool that estimates how much the property is worth, as well as researching what similar homes have actually sold for in the area. Knowing your stuff gives you confidence to negotiate effectively and fairly.
“For sellers, setting the right asking price is key to attracting serious buyers quickly and avoiding painful price cuts later. While it’s tempting to start high and ‘see what happens’, homes priced realistically from the start sell faster and more successfully.”
