Correctly priced homes sell three times faster, research finds

Properties priced accurately from the outset sell in 36 days on average, compared to 127 days for homes that launch with inflated asking prices and later reduce, according to research published by LRG.

The data suggests that pricing strategy has a more significant impact on sale timelines than recent interest rate movements, even as the Bank of England holds rates steady.

Buyer resistance to overpricing

When surveyed about factors preventing them from making offers, 56% of buyers cited overpricing as the primary obstacle, ahead of properties requiring major work at 42% and damp or structural problems at 35%.

Neil Louth, Group Executive Director of LRG and CEO of The Acorn Group, noted that buyers now check comparable sold prices within minutes of viewing a listing. “A home that launches at the right figure attracts viewings in its first fortnight, when interest is at its peak,” he said. “One priced to leave room for negotiation often sits unsold, and the longer it sits, the harder that conversation becomes.”

The findings align with broader industry data showing transparency in pricing builds buyer confidence, as market participants increasingly rely on accessible property data to inform their decisions.

Seller expectations and market reality

The research found that 35% of sellers said getting the price right from day one mattered more than they had anticipated. Despite this, 77% based their asking price on an agent’s valuation.

LRG cited Zoopla data indicating that 44% of homes listed over the past three years failed to sell, with a third of those sellers acknowledging they had priced too ambitiously.

Louth added that the Bank of England’s decision to maintain interest rates unchanged should support market confidence. “Buyers are active, lenders are competing hard for business, and there is positive momentum across the market,” he said.

The research comes as buyer priorities continue to evolve, with pricing accuracy joining property condition and running costs as key decision factors. The data suggests that properties launching at market-aligned prices this summer will capitalise on current buyer activity, while those testing higher price points may face extended marketing periods.

Kindly shared by PROPERTYWIRE Image courtesy of Adobe