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Negotiating could save you thousands when buying a home, and some prospective buyers are willing to tell white lies to knock money off the asking price.
A new survey by Rightmove has shown the most common mistruths buyers tell when they view and make offers on properties.
Read on to find out how much you could save by haggling on price, and for advice on how to make your offer stand out against competitors.
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A new survey by Rightmove has unveiled the white lies and half-truths buyers use when viewing properties.
The portal found that 24% of buyers said they pretended they weren't interested in a property when they viewed it.
A further 17% said they'd exaggerated or downplayed the size or price of the home they were buying, perhaps in an attempt to impress friends, family members or colleagues.
Finally, 16% said they'd lied about their motivation for moving home, be it relocating for a job or seeking a fresh start in a new area.
Steve Pimblett of Rightmove says: ‘Our latest data shows many home-movers are trying to keep their cards close to their chest when it comes to property discussions.
'Some try to keep a poker face about how much they truly like a property, while others might be trying to avoid unwanted questions about their reasons for moving.’
The property market has been relatively slow over the last couple of years, with high mortgage rates hitting affordability.
With this in mind, sellers have had to be realistic over the prices they list their properties for, and buyers have looked to secure cut-price deals.
Data from the estate agency Hamptons shows buyers who had offers accepted in November achieved an average discount of £5,000 on the asking price.
Ed Meyer of the estate agent Savills says: 'Every sale is different, and there are no hard and fast rules to follow in negotiations.
'As a guideline, it’s best to open with an offer that's around 10% lower than the asking price. That should be enough to signal genuine interest while leaving you some wiggle room to keep your final bid as low as possible.
'Try to think one offer in advance – "if they reject this or get a better offer, I'm prepared to go up to X" – but always keep sight of how much you're willing (and able) to pay.
'If your offer has been accepted, estate agents are required to continue reporting any other offers that come into the seller unless the seller has formally requested not to be informed.
'While you may be told of the existence of other offers, estate agents are not obliged to reveal the amount. Whatever happens with your offer, it is important to keep a good open dialogue with the agent.'
There are lots of different factors at play when it comes to bidding on a property, both logistical and emotional.
First, think about the property itself. Telltale signs that there could be scope to negotiate include the home having been on the market for a long time, it having previously been reduced, or a sale having recently fallen through.
Then there's the seller, who may have motivation for a quick sale. For example, the sale could be due to a relationship breakdown, or it could be a probate sale due to the death of the owner. Estate agents won't always reveal the motivation behind the sale, but it's worth paying attention to any clues they provide.
Finally, think about what you have in your favour in the negotiation. If you're a chain-free first-time buyer, you may be able to promise a quicker move than a competitor who is tied up in a long chain. It can be helpful to get a mortgage agreement in principle before making an offer, too, as this will show the seller you're serious about buying.
You can find more advice on negotiating in our guide to making an offer on a house
Experts predict that house prices will rise in 2025, with forecasts ranging between 2.5% and 4%. The largest increases are expected in the north of England and in Scotland, while the south of England and London are expected to see slower growth.
Persistently high mortgage rates will continue to have an impact on the market. According to Moneyfacts, fixed rates have edged up slightly in January. However, experts still expect rates to fall as we move through 2025, with a belief that the base rate could be cut two or three times this year.
If you want to understand what’s happening with house prices in your area or a town you’re considering moving to, it’s important to look at property prices at the local level, as trends can vary significantly even within the same county.
The Land Registry is the best source of this information. Its data has a two-month lag but is the most accurate, as it shows the actual sale prices of properties rather than their asking prices.
You can find out more about what might happen in the property market this year in our story on house prices, which is regularly updated with the latest figures.
