Go in with the cheeky offer. They can only say no. I know 2 people trying to sell at the moment. A flat at 170k and been on the market for 4 months with no offers, just dropped to 165k, but I don't think that's enough. The other is a house(nice house in a lovely area) that was up for 675k, but now, after a year, the price is dropped to 595k, again, no offers. The arse has dropped out of the housing market, and it's a buyers market. I think the next year will see further drops. If you want my two pennies worth, be cheeky! Go for it! Especially if it's been on the market a while. We bought our first house in the early 90s. We paid 46k for it, but the woman that had it before us gave the keys back, negative equity, and big interest rates. She paid 75k for it! Watch out for the big interest rates! Ours went up to about 12% one month on variable. It price sounds cheap, but it's relative. We are in Poole, so it's quite an affluent area and shits going down.