It depends on the bank. I only deal with one or two I know and trust. Their portfolios are on average at least 30-40% below 2007 values. Often a great deal more. I am the last person to defend banks but they are the only place to go at the moment where values are realistic. Private sellers and agents are a waste of time. Most private sales have large debts and no one will sell below that. So many are in negative equity and it’s a hopeless position. The value of the mortgage usually outstrips the property value by some margin.