Buyers in each UK region are beginning to take advantage of faltering demand and claw back their bartering power, forcing sellers to go below their minumum price to secure a sale.
Scotland has borne the brunt of current market conditions with the average seller losing 5.4 per cent off their asking price over the last six months, followed by the 3.5 per cent trimmed from Welsh properties.
However the South is faring a little better, with Londoners only having to shave 0.3 per cent off the average asking price as the supply/demand ratio in the capital holds relatively even.
These reluctant price reductions have pulled the average house price back to £255,544 in England and Wales.
