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UK Homes

Pricing a property correctly from the start could make all the difference in today's housing market

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More UK homeowners are slashing asking prices as buyers push back

  • Homes that need a price cut take around 100 days to attract a buyer, compared with 28 days for accurately priced properties.
  • One in three property sales involved at least one asking price reduction, according to Savills.
  • Premium homes face some of the steepest price corrections as London's housing market remains under pressure.

Setting the right asking price could be the difference between selling a home in weeks or waiting months, according to new UK property market research.

Estate agent Savills has found that homeowners who overprice their properties are taking significantly longer to secure buyers, with many eventually forced to cut their asking price. The findings come as the UK housing market remains price-sensitive and buyers continue to be cautious.

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