The Market Is Speaking: Overpricing Means Delays (or No Sale)
In 2025, the UK property market is grappling with an avalanche of price reductions—a clear sign that many vendors have misjudged buyer appetites. In April alone, there were over 104,000 price cuts—more than double the number recorded in April 2021—bringing the year-to-date total to nearly 388,000 reductions. That marks a 20.6% year-on-year increase in reductions relative to new listings.
Despite this, the rate of listings with at least one price cut has remained steady around 38%, suggesting many sellers still start too high before adjusting later.
Why This Matters: Missing the Launch Window Is Costly
Properties that start with inflated asking prices often lose traction fast. Research shows that sellers who overprice typically see longer sale times, while competitively priced homes sell quickly. Price reductions can add two months or more to the time it takes to sell.
Buyers Have the Upper Hand—But Still Look for Value
With more choice available and borrowing becoming modestly more affordable, it’s firmly a buyer’s market. But buyers remain motivated, especially when they see properties priced fairly from the outset. Overpriced homes get left behind.
Case in Point: Rightmove’s July Data Speaks Volumes
Rightmove flagged July as a turning point. Asking prices dropped 1.25% nationally, and even more sharply—1.5% to 2.1%—in parts of London. It’s the biggest fall in nearly 20 years of data collection, showing just how crucial realistic pricing has become.
Why Oakfield’s Honest Approach Works
At Oakfield, we understand how important it is to get the price right from the very beginning. A realistic valuation means:
-
Capturing the initial surge of interest when your property first hits the market
-
Avoiding damaging price reductions that can put off buyers later
-
Maximising your chance of a quicker, smoother sale
We pride ourselves on providing valuations based on up-to-date market data, ensuring you enter the market competitively and with confidence.
Still a Great Time to Sell
Although the headlines focus on price cuts, it’s important to remember that there are still plenty of buyers out there. Correctly priced homes are selling well—and often faster than expected. With demand steady in many areas, sellers who start realistically are in a strong position to achieve a successful move.
If you are considering selling or are on the market already and not getting the interest you hoped, our team would be happy to have a no obligation chat to see if we can assist, check out our branch contact details here.