Homebuyers are finding haggling over house prices increasingly difficult with the typical British property currently reduced by 6.05% from its original asking price.
The figures, which were found by Zoopla, are the lowest in five years and despite the lower discounts on offer, almost a third of properties currently on the market for sale have had their price reduced at least once since originally being listed.
The north of England was found to have the highest percentage of properties with reduced asking prices while the largest reductions currently on offer were Blackpool, Manchester and Bradford.
Lawrence Hall, of Zoopla, said: “Buyers may be disheartened by the decrease in the typical discounts on offer but can take cheer from the fact that almost a third of houses are listed today below their original asking price.
“This means that despite ever-increasing house prices, there is still room for some good, old-fashioned negotiating.
“On the flip side, vendors can be pretty confident of achieving close to their initial asking price.
“Zoopla has a unique feature on its website that allows potential buyers to track original asking prices and subsequent reductions.”
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Top 10 Areas With Highest Proportion of Asking Price Reductions |
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Rank |
Area |
% of Homes on Market Reduced |
Average Price Reduction (%) |
Average Price Reduction (£) |
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1 |
Rotherham |
43.6% |
7.4% |
£11,193 |
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2 |
Preston |
43.2% |
6.8% |
£14,235 |
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3 |
Barnsley |
42.3% |
7.4% |
£10,331 |
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4 |
Wolverhampton |
41.2% |
7.0% |
£11,236 |
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5 |
Blackpool |
38.9% |
9.8% |
£14,017 |
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6 |
Chesterfield |
38.8% |
6.5% |
£12,494 |
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7 |
Blackburn |
38.6% |
7.9% |
£12,437 |
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8 |
Wakefield |
38.5% |
7.2% |
£14,465 |
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9 |
Wirral |
37.8% |
6.4% |
£15,643 |
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10 |
Huddersfield |
37.2% |
6.4% |
£12,740 |
Source: Zoopla, May 2015
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Top 10 Areas With Largest Asking Price Reductions |
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Rank |
Area |
Average Price Reduction |
Average Price Reduction (£) |
% of Homes on Market Reduced |
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1 |
Blackpool |
9.8% |
£14,017 |
38.9% |
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2 |
Manchester |
8.3% |
£15,437 |
31.2% |
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3 |
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