More than a third of homes currently for sale across England are being marketed at reduced prices giving buyers a strong chance of securing a January bargain but fresh discounts are already drying up as market conditions improve.
New research from Benham and Reeves shows that 37% of the 337,071 homes currently listed for sale have had their asking price cut, equating to 125,216 discounted properties nationwide.
The findings reflect the legacy of a sluggish 2025, when many sellers were forced to trim prices to secure a sale.
The biggest concentrations of discounted homes are in the South. The South East leads the way, where 39% of all listings have been reduced, followed by the South West at 38.9%, the East of England at 38.4% and London at 37.9%. These higher-value regions have seen the greatest need for price realism as affordability pressures have bitten.
BARGAIN SUPPLY SLOWING
However, the flow of new bargains is already slowing. Of the 125,216 homes that have seen a price reduction, just 1,003 entered the market during the first seven days of 2026.
That means only 0.8% of all discounted homes are new listings, suggesting that most of today’s bargains are properties that failed to sell last year rather than fresh stock being priced keenly.
The shift reflects a market that is starting to stabilise.
Benham and Reeves says this shift reflects a market that is starting to stabilise. With Autumn Budget uncertainty behind it and confidence improving, sellers coming to market in early 2026 appear more willing to test higher asking prices rather than build in discounts from day one.
For buyers, that creates a narrowing window of opportunity. There is still a large pool of reduced-price stock available, particularly in the South, but as new listings increasingly come to market at firmer prices, the number of easy January deals is likely to shrink as the year progresses.
BUYER OPPORTUNITY
Marc von Grundherr (main picture, inset), Director of Benham and Reeves, says: “2025 was a steady but subdued year for the property market and, as a result, many sellers will have experienced little to no buyer interest, particularly across the more inflated regions of the South and London.
“So, it’s only natural that a sizeable proportion have resorted to reducing their asking price expectations in order to secure a sale and, as a result, there remains a strong opportunity for buyers to find a discounted property today.
TIDE BEGINNING TO TURN
But he adds: “However, we’re already seeing early signs that the tide is beginning to turn. With Autumn Budget uncertainty now firmly behind us, both buyers and sellers have re-entered the market with renewed confidence and those vendors who have listed their home during the opening days of 2026 have been far less willing to budge on price.
“It’s still very early days, but with buyer affordability receiving a boost following the December interest rate cut, we expect sellers to hold their nerve over the coming months as market conditions continue to improve.
“Therefore, buyers hoping to secure a January bargain would be wise to act quickly before these opportunities begin to dry up.”
