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Hard-nosed homebuyers can drive down costs

One-third of homebuyers are managing to negotiate up to 15 per cent off asking prices, according to the Woolwich&#39s annual Cost of Moving survey.

Woolwich says Londoners are faring the best, with half of buyers saving significant sums off the vendor&#39s asking price, up to £37,500 some scenarios.

Estate agents&#39 fees for property sales vary significantly between the North and the South, with people in the South paying over £6,000 compared with £4,700 in the North.

Woolwich says 42 per cent of estate agents are optimistic about the propoerty market for the coming year.

Head of mortgages Andy Gray says: “More than ever, it seems that a hard-nosed stance can pay dividends when negotiating both on both price and fees for moving house.

“Housebuyers should not be afraid of taking a tough position because, despite the optimism felt by estate agents for the coming year, it is a buyers&#39 market at the moment.”

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