First-time buyers are negotiating big discounts off asking prices as the market swings in their favour.

Research by TSB has found that more than nine in 10 first-time buyers negotiated on the property purchase price last year, securing a discount of £22,900 on average.

Younger first-time buyers, those aged between 18 and 34 made the biggest savings negotiating £24,400 off asking prices on average. 

Only 9 per cent of first-time buyers were unable to negotiate a reduction.

'Most first-time buyers are successfully lowering a property’s purchase price through negotiations that can lead to notable reductions to the asking price, in some cases,' said Craig Calder, director of secured lending at TSB.

'It’s vital that house buyers build time into the process for enough viewings, alongside effective budgeting and negotiation.

'The right deal for the right home can be game-changing for your financial future and wellbeing.'

A buyer's market

Across much of the country at present it is a buyer's market, with sellers having to price keenly to attract interest.

In many cases, in part to higher mortgage rates, affordability remains a constraint for those buying their first home and property website Zoopla says there remains plenty of homes for sale, which means buyers are spoilt for choice in some places.

In some locations such as London, prices are falling, while other areas have seen them remain flat.  

House prices fell for the second month in a row in December, according to the latest figures from Halifax. 

House prices finished 2025 only 0.3 per cent higher than they started it with the typical homeowner just £952 better off than in 2024.

But while some are fearful of buying when prices are falling, others sense an opportunity to haggle.

TSB's study found the average deposit size reduced by 5 per cent last year to an average of 18 per cent, and the typical buyer is putting down a deposit of £40,000.

More than two thirds made an offer on the property they eventually bought within a week, while one in seven made an offer the same day they viewed it. 

On average, it took two offers to be successful. One in 20 made four offers, or over, according to the study.

A third of recent first-time buyers said they would negotiate even harder if they bought their home again.

Phil Spencer's first-time buyer tips 

Phil Spencer, co-presenter of the Channel 4 show, Location, Location, Location and founder of the property advice website Move iQ, says it's worth putting the estate agent on the spot and asking them as many questions as you can about the seller.

He says: 'Before you make a low-ball offer, ask the estate agent the seller's reason for selling and how long the property has been on the market.

'Quiz them on whether there have been other offers; agents have to tell you if so, albeit not the amount, but it is worth asking for the numbers just in case.

He adds: 'Two key tell-tales to look out for are any signs the seller is in a hurry - ask where they are moving to and why - or if they have been struggling to get serious offers.

'Knowing either of these things will tell you just how hard you can push on price. In the current market, you may be surprised at just how hard-ball you can play.'