The right price has always been important when selling a property – it generates the most interest, ensures you have serious buyers and cuts down on the back and forth of negotiation times since buyers will generally recognise a fair price.
However, with the current uncertainties surrounding the autumn market, it’s more important than ever to price correctly if the traction built in the market over the last few months is to be maintained.
Why more competition makes launch pricing essential
The number of properties coming to market is increasing, up by 2% in August according to Rightmove’s August figures. In the south, that figure’s much higher at 9%. The greater choice means that buyers have the upper hand and more time to consider their purchase. As a result, it takes an average of five days longer to find a buyer. If your property isn’t priced in line with other similar properties, potential buyers may not even look at your listing.
Price inflation is slowing, particularly in London, where it grew by just 0.7% in the 12 months to July 2025, according to September’s house price figures from the ONS. However, properties priced correctly are selling, with agreed sales 4% ahead of this time last year across the UK. Rightmove attributes this increase in sales activity to sensible and attractive pricing, a factor that also drove the best July for agreed sales since 2020, rather than sellers getting greedy for deals.
How the wrong price means your listing gets lost
Although well-priced properties sell fast, those that are priced too high get overlooked by a buyer who has too much choice to waste time and effort haggling over an inflated price when there are other similar properties priced more competitively. Other properties appear higher on their hit lists, leaving overpriced properties languishing.
Why the wrong pricing slows your sale
This can have a big impact. In Rightmove’s August update, it said a third (34%) of properties for sale were reduced in price – a share that’s only been higher once since 2023. Although the average time to find a buyer is 62 days, it increases to 99 days if a price reduction is required. By contrast, if a property is priced correctly, the average time to sell almost halves to 32 days.
How to get your price right
Correct pricing helps to maximise early interest and generate enthusiasm for your property in the vital first fortnight of a sale when buyer demand is likely to be at its highest. Agent advice will help you to best price your property, but bear in mind that some agents will also want to win your business, so they may over-inflate asking prices themselves. Pricing quotes should also take into account the fact that buyers and sellers are starting to get nervous about proposed property tax changes mooted to be coming in the Autumn budget at the end of November.
Check live local comparisons as well as sold prices and push your agent for evidence that they’ve achieved the original asking price – or close to it for other sellers of similar properties. And, if you do find that initial traction is slow or that viewer feedback is that you’ve overpriced, be sure to act fast to adjust it.
Proctors is an independent network of individual estate agent businesses with branches in Beckenham, Bromley, Park Langley, Petts Wood, Shirley and West Wickham. We’ve been buying, selling and letting in these areas since 1946. Get in touch to find out how we can help you with your property requirements.