Houses are selling at an average of 9% below their asking price in Britain, with sellers in some regions being forced to accept as much as 12.5% less than the advertised price, says RICS.

As economy there worsens, the gap between selling and asking prices is widening, although this trend is more marked in the Northern regions than in London.

In the North vendors are accepting, on average, offers of 12.5% below the marketed price, while sellers in the North West, East Midlands, West Midlands and Wales the figure is slightly better, averaging 10%, according to the Royal Institute of Chartered Surveyors (RICS).

In London, however, this figure is much lower, at 8.5%. The capital “has remained firmer than most as its diverse economy and large job market offers sellers more room for optimism,” according to the RICS.

The gap between selling and asking price did not appear to widen in London in August with 67% of surveyors reporting no change. However, it is predicted the London market could be adversely affected as employment in the financial sector drops off.

Scotland, where the gap is only 2.4%, is bucking the trend, but price falls in this region have lagged significantly behind the rest of the UK and predictions are that the selling and asking price discrepancy is likely to widen in the coming months.

"With housing transactions currently at a 30-year low, many vendors are being forced to lower their asking prices to achieve a sale in an ever-shrinking market or they are being forced to rent their property until the market picks up,” said Simon Rubinsohn, RICS chief economist.

“In recent surveys, surveyors have reported that some buy-to-let investors are re-entering the market to take advantage of rising yields.

In addition, 'predatory buyers' have been hovering over the corpse of a stalling market with many others cut out by the lack of mortgage liquidity.

"The gap between asking prices and selling prices could widen in the coming months as the downturn in the economy becomes more visible,” he added.