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Should you reduce your asking price? What our data shows
Nearly three in ten homes that found a buyer this autumn had their price cut first, typically by about 6%. When a cut tends to come, how big it usually is, and what to check before you agree to one.
In this article
Published 3 November 2026, from home.co.uk listings that went under offer between 26 September and 23 October.
Of the 11,958 homes on home.co.uk that went under offer in those four weeks, 29% had their asking price cut first. For those with a clear price history, the typical drop from the first asking price to the asking price when it went under offer was 6.3%, or £25,000. Most had only one cut, and the typical reduced home went under offer about a month after its cut. (That's the asking price at the time, not the price finally agreed, which we don't see.)
Whether you should reduce depends on what the market is telling you, so here's what the numbers show and what to check first.
How many sellers cut their price?
| Homes that went under offer | |
|---|---|
| Sold without a price cut | 71% |
| Price cut at least once first | 29% |
Of the reduced homes with a clear price history (2,801 of them), 65% had one cut, 23% had two and 12% had three or more.
How big is a typical price cut?
For reduced homes, the typical asking price when it went under offer was 6.3% below the first asking price. For the middle half, the drop was between 4.2% and 9.7%. The typical offer then came 33 days after the cut.
| First price | Typical drop | In pounds |
|---|---|---|
| Under £200,000 | 7.0% | £10,000 |
| £200,000 to £350,000 | 5.8% | £15,000 |
| £350,000 to £500,000 | 5.9% | £25,000 |
| £500,000 to £1 million | 6.0% | £45,000 |
| Over £1 million | 8.6% | £105,000 |
When do sellers usually reduce?
The typical home that sold without a cut went under offer 23 days after it was listed. For homes that were cut, the typical cut came 70 days after listing, and the typical offer 33 days after the cut. (Those are separate medians, so they don't add up to the total time on the market.)
That doesn't mean every home should be cut at a set point, and listings alone can't tell us whether those first prices were too high. But among homes that did find a buyer, cuts were common for those still waiting after a couple of months. Our guide to how long it takes to sell a house shows how that varies by price and area.
Signs it might be time to look at the price
- Few viewings. If buyers aren't booking, the listing isn't standing out against what else they can see for the money.
- Viewings but no offers. Buyers are interested enough to visit but compare it with homes they think are better value.
- Similar homes are selling and yours isn't. If homes like yours nearby have gone under offer since you listed, check what they were priced at.
- Feedback keeps mentioning price. Ask your agent for the actual feedback from every viewing.
What to check before you agree to a cut
- What similar homes sold for. Look up recent sales on your street with HM Land Registry's sold prices (England and Wales), or check sold prices for your town on Home, for example Manchester.
- What you're up against now. Search homes for sale near you at your price and just below it. That's the list a buyer is comparing yours with.
- The photos and the description. A better first photo, a floor plan or a clearer description can change interest without changing the price.
- Your agent's plan. In England, the Property Ombudsman's code for estate agents tells agents: "You must keep your marketing strategy under regular review with your client." Ask what they'd change besides the price, and agree when you'll next review it.
- A second opinion. Get a free instant valuation, compare local agents' track records on Find my agent, or read our guide to selling your home.
How much should you reduce by?
There's no single right figure. In our data the typical total drop was 6.3%, from about 6% for most price bands to 7% under £200,000 and 8.6% over £1 million, and most reduced homes had one cut. If a small cut would take you under a common search filter, such as £250,000, ask your agent whether that's worth it.
How we worked this out
We took every home for sale on home.co.uk that went under offer between 26 September and 23 October 2026, counting each home once: 11,958 homes. A home counts as reduced if its price was cut between listing and offer. For cut sizes, we compared the first asking price with the price at offer for the 2,801 reduced homes with a clear price history. Figures are medians, the middle value. Only homes that went under offer are counted, so homes still for sale or withdrawn aren't included.
More in Selling your home: the Home guide
Frequently asked questions
Should I reduce my asking price?
If you've had few viewings or no offers for several weeks, and similar homes nearby are selling, it's worth reviewing. Of the homes that went under offer on home.co.uk this autumn, 29% had been reduced first, and the typical one found a buyer about a month after its cut.
How much do people usually reduce their house price by?
Among homes that went under offer, the typical reduced one was listed 6.3% below its first asking price by then, about £25,000. For the middle half of homes, the drop was between 4.2% and 9.7%.
When should I reduce my house price?
There's no fixed point. The typical home that sold without a cut went under offer 23 days after listing; homes that were cut were typically reduced about 70 days in.
Is it better to reduce once or several times?
Of reduced homes that went under offer, 65% had one cut, 23% had two and 12% had three or more.
Sources
- Search house price data (sold prices, England and Wales). HM Land Registry. Accessed 2 November 2026.
- Code of Practice for Residential Estate Agents (England, March 2026). The Property Ombudsman. Accessed 2 November 2026.
- Home.co.uk analysis of homes that went under offer, 26 September to 23 October 2026 (method on this page). home.co.uk. Accessed 2 November 2026.
