What percentage offers are you making/accepting?

[MugPlate]

Can anyone say what percentage you are asking off when (successfully) buying this year? Or what percentage off asking price you are accepting?

It doesn’t seem like people are offering over asking price these days…

We accepted 1.5% (£5k) less than our listed price. I definitely think where we are it's a buyers market so right now I doubt many are going for over listed and I see a fair few reduced in price.

We accepted 3% less because they were cash buyers and had a buyer for their house who wants to move quickly.

It’s totally area dependent, we accepted 5% over (26.25k) and offered 10k under which was about 2.5% and that was accepted. Different areas.

We accepted 100% of our listed price, and had an offer accepted for 97% of the listed price of the house we bought (they rejected a 95% offer).

Well it depends on the reduction from the original listed price or the reduced price. Most houses near us have been reduced. We’ve offered on 3 houses and were accepted for all 3 but had to withdraw the offers for several reasons - 13%, 10% and 7% off the reduced price.

We offered 6.5% less and were accepted this year.

We offered 10k under which was 8.5% under asking.

It's extremely variable.
In many areas, half the houses are already reduced (I've seen some very chunky reductions, up to 40%) and another significant percentage not selling, in others, some houses are selling quickly.
A better question, if selling would be, how realistic is my asking price compared to the houses that are selling? If buying, what have other properties recently sold for, are houses selling, how many suitable houses are on the market and continuing to come up in my area, what can I afford, how secure is my job and perhaps, what is the seller's position?
There is no fixed %.

We accepted 3% below asking and had an offer 4% below asking accepted.

Was there a bidding war?

If buyers are make outlandish offers won't sellers just not sell (except for extenuating circumstances)?

We accepted 1% under with buyers who had sold to a ftb.

With ours? No a buyer just went in at 5% over. To be fair although not every property goes over, a fair amount do as it’s an in demand area and ours was very highly finished. They just wanted to secure it as they had been out bid before.

@Kayakingvacation they most likely won’t sell. But what most don’t realise is that the value of the £ is eroding over time so accepting the same offer 2 years down the line means that the seller is actually losing out than if they accepted that same price now. They will have less money in real terms in years to come.
a lot of sellers I’ve experienced seem deluded about the cost of renovations, especially the older cohort who think their home only needs £50k of renovations but the actual cost of doing them is closer to £250k. Buyers are switched on now and won’t pay the inflated prices. Which means that a lot of houses will just stay on the market unsold until inflation makes the same asking price cheaper in years to come.

Anyone in Leeds? DS is in the process of trying to buy and so far offers under have failed and best and final have been beaten.

I totally agree. These renovation type properties haven't been selling since 2022 but many sellers still don't seemed to have cottoned on.
Having said that, the reductions are coming more quickly and for increasing amounts. Here is the 40% off one. Buyers can use Propertylog to see the reductions now.
https://pbs.twimg.com/media/GtkpziFWEAAyfV_?format=jpg&name=medium

There are far more 'cheeky' asking prices than there are 'cheeky' offers at present @Kayakingvacation. As I mentioned on another thread, Rightmove have recently said that asking prices are falling now, in peak season with an index that only measures initial asking prices and ignores all reductions.
https://www.theguardian.com/business/2025/jun/16/uk-house-prices-market-rightmove-stamp-duty
These things are not well publicised so many people just don't know.

Useful, thanks. I can see the drops now.

Pleasure. The more who know, the better. Some of the agents are pretending that things are reduced by listing initially as reduced when they have, in fact, not reduced. It's worth knowing when they aren't playing it straight too!

I see they drop and bit and then go back up, suppose that boosts listings to 'new'.

We accepted just under 4% (£15k) off our asking price in March. We only did that because they were FTBs though, we’d have not accepted more than £5k below asking for anyone else.

We got £15k off our onward purchase as well, but obviously that’s a much smaller percentage as we’re moving up the ladder.

I've seen that too. Not the honest bunch, estate agents!
Always good to know these things and behave accordingly.

I offered 2.5% below and was rejected even though it was to replace their buyer who had just pulled out. So area dependent!

Have they sold?

No @MugPlatethis was only a few days ago. Their buyer pulled out so I offered, thinking they would want to avoid going back on the market (it’s a developer with no chain) but apparently not!