New data has revealed that UK property sellers are accepting an average of 22% below their asking price according to The Access Group.

The London borough of Southwark saw the biggest gap, with homes selling for an average of £596,571 – less than half the asking price (-53%) of £1,275,853, from September to November 2025. After Southwark, the City of Westminster and another London borough, Lambeth, both had the next biggest gaps between sold and asking price data at 52% below. 

Robin Edwards, managing partner at Curetons, said: “The gap between asking prices and final sale prices we’re seeing across the UK comes down to a lag between seller expectations and the financial reality buyers are working with now. 

“Many sellers are still anchored to pre-2022 valuations when cheaper borrowing significantly increased what buyers could afford. Today with mortgage rates higher and affordability tighter, buyers simply can’t stretch in the same way. 

“For buyers this environment creates an opportunity to negotiate more confidently, particularly where a property has been on the market for a while or requires a lot of work. Buyers who are financially secure, chain-free and able to move quickly are in a particularly strong position because sellers are increasingly prioritising certainty over squeezing out the very last bit of price.”

Of the 161 local authorities analysed, 42 saw properties selling for at least 30% under the average asking price during the same period. A handful of markets are operating at the other end of the scale, Harrow (+3.5%) and Chichester (+4%) have remained largely immune, however Trafford in Greater Manchester bucks the national trend with properties in the area currently selling for an average of £105,000 over asking price, representing a +38.5% gap.