Walk into any estate agent this autumn and you will hear the same word: stock. The number of homes available for sale has reached its highest October level in 12 years. At the same time, buyer enquiries are running below last year, and roughly one in four sellers has already dealt with a failed listing or a price reduction. That combination creates a straightforward problem: too many homes chasing too few buyers, and the homes priced incorrectly are sitting unsold while the well-priced ones move.
What overpricing actually does to your listing
When a property first appears on Rightmove or OnTheBoard, it gets a burst of attention from buyers who have saved their search criteria. If your price is too high, those buyers scroll past. They do not book a viewing. They do not give you feedback. They simply move on to the next result.
After two or three weeks without viewings, agents talk about listing stigma. Buyers start to wonder what is wrong with the property. A price reduction then confirms their suspicion that something is off, and some will pitch low offers as a result. Data consistently shows that homes requiring a reduction sell for less than comparable homes that were priced correctly from the start. The longer a property sits, the weaker your negotiating position becomes.
In a market with this much choice, buyers are not desperate. They can wait, and many are.
Five practical steps before you set your asking price
1. Commission an honest local appraisal
Ask at least two agents for a market appraisal, and be direct: you want a price that will sell, not a figure designed to flatter you into signing an agreement. Some agents quote high to win instructions, then manage expectations downward over weeks. Ask each agent to show you the comparable evidence behind their figure, not just a number on a sheet.
2. Check HM Land Registry completed prices in your road
The Land Registry publishes the prices that buyers actually paid, not the asking prices that sellers hoped for. Search your street on the government website and look at sales from the last 12 months. That is your benchmark. Asking prices are opinions; completed prices are facts.
3. Aim for EPC Band C or above where you can
Energy efficiency has moved from a nice detail to a genuine selling point. Buyers are calculating monthly running costs alongside their mortgage payments, and a property rated D or E can put people off before they even book a viewing. Simple improvements, such as loft insulation, draught-proofing, or upgrading an old boiler, can push a rating from D to C without enormous cost. Speak to an accredited energy assessor before your EPC is renewed to find out what would make the difference.
4. Respond to viewer feedback quickly and honestly
When buyers do view and choose not to offer, their feedback is worth more than most sellers realise. If four viewers in a row mention that the price feels high relative to the road, or that they are concerned about the roof condition, that is a signal. Act on it rather than dismiss it. Price adjustments made early cost less than reductions made after six weeks on the market.
5. Understand how modern buyers think about cost
Few buyers think purely in terms of purchase price. Most are running a mental calculation: mortgage payment at current rates, plus council tax, plus energy bills, plus any immediate work the property needs. A house priced at a level that pushes their monthly payment above their comfort threshold will not get an offer, even if the buyer likes the home. Pricing to reflect that monthly-cost psychology is not reducing your ambitions; it is recognising how decisions are actually made.
Should you wait until 2027?
Some sellers are holding off, hoping the market shifts in their favour. That may or may not happen. If mortgage rates ease and buyer confidence recovers, conditions could improve. Equally, further stock could come to market and competition could increase. Nobody can say with certainty. What is clear is that waiting costs you time and, if you are also looking to buy, it delays your own move. Speak to your agent about the specific picture in your street, not the national headlines.
What is still selling well
Chain-free properties, particularly those where probate or downsizing means a straightforward transaction, are still attracting serious buyers and achieving close to asking price. Well-presented homes in Band C or above, priced in line with completed sales evidence, are moving without extended time on the market. The market is selective, not dead.
The practical takeaway
Price your home on evidence, present it to the best standard you can manage, and be ready to respond to the market quickly if viewings are slow. A correctly priced, well-presented home in October 2026 is still a saleable home. If you would like a straight-talking appraisal based on what is actually happening in your road, get in touch with our team and we will give you the honest picture.
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