Getting the asking price right remains the most important factor in selling a home, despite growing attention on mortgage rates and wider economic conditions.
New research from LRG suggests that buyers remain highly price-sensitive, with overpriced properties taking significantly longer to sell than those launched at realistic market values.
According to Rightmove data highlighted by LRG, homes priced correctly from the outset secure a buyer in an average of 36 days. Properties that enter the market at an inflated price and later require reductions take an average of 127 days to sell – almost three months longer.
The findings come as the Bank of England’s decision to hold interest rates continues to support confidence among buyers and sellers, helping to create a more stable environment for property transactions.
BIGGEST FACTOR
However, LRG’s latest Sales Report Summer 2026 suggests that asking price remains the biggest factor influencing buyer behaviour.
More than half of buyers surveyed (56%) said an overpriced property would prevent them from making an offer, making it the single biggest dealbreaker.
This ranked ahead of major refurbishment requirements (42%) and concerns about damp or structural issues (35%).
The findings reinforce wider market trends.
Research from Zoopla found that 44% of homes listed over the last three years failed to sell, with a third of sellers later admitting they had priced their property too ambitiously. Rightmove data also shows that almost a third of homes currently on the market have undergone a price reduction.
ACCURATE PRICING
Neil Louth (main picture, inset), Group Executive Director of LRG and Chief Executive Officer of The Acorn Group, says: “Buyers can check what comparable homes actually sold for in a couple of minutes, and they do.
“A home that launches at the right figure attracts viewings in its first fortnight, when interest is at its peak. One priced to leave room for negotiation often sits unsold, and the longer it sits, the harder that conversation becomes.”
The research also found that many sellers recognise the importance of accurate pricing only after entering the market.
PROFESSIONAL ADVICE
More than a third (35%) said getting the asking price right from day one proved more important than they initially expected.
Professional advice continues to play a key role in the process, with 77% of sellers basing their asking price on an estate agent’s valuation, while just 2% relied solely on instinct.
Louth adds: “The Bank of England’s decision to keep rates unchanged should help support market confidence.
“Buyers are active, lenders are competing hard for business and there is positive momentum across the market. The homes that succeed this summer will be the ones launched at a figure buyers can justify from day one.”
