Investors seeking to take advantage of the current buyers’ market will be heartened by new research from the consumer group HomeOwners Alliance.

This shows that 39% of UK home owners negotiated a deal on their recent house purchase – suggesting that sellers who pitch too high risk losing serious offers.

Of that 39% the most common size of reduction was up to 5% off, although substantial numbers negotiated 5% to 10% off, and a smaller number successfully securing over 10% off.

HOA found that first time buyers were the least likely to negotiate.

Commenting on the results, Paula Higgins, chief executiveof the HomeOwners Alliance, says: “Buyers clearly have more room to negotiate right now — but don’t just guesstimate 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. Be guided by local sale prices, market trends and how fast you need to move. While it’s tempting to start high and ‘see what happens’, homes priced realistically from the start sell faster and more successfully.”