Estate agents who encourage vendors to push up the asking price of their property more than double the average time it takes to sell the home, according to new research by Andrews estate agents.

So-called ‘Pom-pom pricing’ could add almost three months to a typical sale, potentially costing the vendor more in the long run and increasing stress.

Correctly priced homes that require no reductions take just over seven weeks to accept an offer, according to data obtained by Andrews from Spectre. However, for sellers who need to make a price reduction, the average process takes more than 18 weeks, or an extra 80 days.

For those owners requiring two price reductions it takes more than 27 weeks to agree a sale, increasing to almost 36 weeks for those requiring three price drops, and hitting nearly a year for those requiring six or more price reducitons.

Carl Howard, group CEO of Andrews estate agents, commented: “When you’re selling a home it’s wise to interview a few different estate agents to get a clear idea of your property’s true value, but don’t be tempted to go automatically for the highest valuation.”