Homes selling in this short period typically get 99.4 per cent of their asking price.

Those that sell after one month achieve an a average of 98 per cent of their asking price while those which take two months to find a buyer drop to an a average 91 per cent.

Then after 12 weeks on the market a typical sale price slips to 90 per cent.

The analysis has been undertaken by the HomeOwners Alliance, using data from over 6,500 estate agent branches across Britain.

The HOA says that based on the average property price across the UK of £235,000, a 14-day sale will mean the vendor would be only £1,400 below their asking price.

However, the amount by which they fall short of their asking price increases over time and the alliance says after one month the price drop is more than £5,000 and then over £20,000 after two months on the market.

“Draw up a short list based on their track record, not their sales pitch. If you’re selling a home which has been languishing on the market speak to your agent and review the asking price. You may also want to switch estate agent to one that has a better success rate in your local market.”