Around 30% of London property sellers are reducing asking prices, while realistically priced homes are being sold within 71 days, according to data from HouseSimple.com.

The report shows that, in some parts of the capital, a third of sellers are reducing asking prices, with more prices trimmed in west London than any other part of the capital.

While the figures don’t take into account the number of asking prices corrected by estate agents in the first few days of being listed, Rightmove has also released a report that warns sellers that they could pay for over-pricing their homes.

In the past 10 years, the lack of stock on the market and high demand have pushed house prices up in the capital, while in west London, the Crossrail effect has particularly boosted values, as buyers sought to invest in areas set to benefit from the high-speed link to central London.

Alex Gosling, the CEO of HouseSimple, commented: “Prices in areas such as Ealing have risen so much due to Crossrail that they couldn’t possibly carry on going up at the same rate. We now may be starting to see buyers push back a little as they feel prices have reached unaffordable levels.”