Recently, the headlines have been filled with reports that the sales market is going through a slump. Various articles have stated that the market for flats is ‘dead’ (The Guardian); that sales of new builds in London have ‘plummeted’ (The Standard), and that house prices are ‘flatlining’ (The ipaper). And, according to Zoopla, 44% of all homes listed for sale in the UK in the past three years have failed to sell.
So what’s going on? Is the whole market really that bad?
The short answer is no, and if you want to sell your home, you should be able to find a buyer. However, price is key and it’s essential to work with a qualified and experienced agent who can make sure your pricing strategy is realistic for the local market for your home.
Why are some homes struggling to sell?
One big problem is that too many homes have been marketed at an over-ambitious price, and they are generally the ones not selling.
It’s important to recognise that a home is only worth what a buyer is willing to pay at the time it’s being marketed, and an experienced agent will know and be able to explain what that price is and why.
When a home is overpriced, it’s usually because some sellers decide on a price themselves after talking to family and friends, although some agents do still use a tactic of over valuing a home to gain the listing.
According to Zoopla’s survey of more than 2000 sellers in the first quarter of this year:
• Only 53% of under-35s sought pricing guidance from an agent, compared to 83% of over-55s
• Almost a fifth of all sellers chose to go with the agent who gave them the highest valuation
• 20% of under-35s knowingly ‘tested the market’ at an inflated price, versus just 6% of over-55s
• Only 52% of under-35s achieved a successful sale, compared with 63% of over-55s
• 52.8% of sellers had to drop their asking price to secure a buyer
It’s also worth noting that in 2025, properties that had to drop their asking price took almost 2.5 times longer to sell than those that came to market at a realistic price.
If you’re selling at a time when demand is exceeding supply and there are several buyers competing for every property for sale, it can be worth testing the water and pricing optimistically. But in the current market, it’s clear that if your home is priced above its ‘true’ value, it will take much longer to sell, and you will almost certainly have to reduce the price down the line.
Another issue for sellers has been a drop in buyer demand through the first half of this year, compared with 2025. Average mortgage rates jumped to 5% in April, and although they are now falling again, affordability is still a concern for many people. That has made the market particularly price-sensitive, with buyers being more cautious about making offers.
Finally, selling a flat is undoubtedly more of a challenge today than it was even 10 years ago. Short leases that may be costly to extend, increased building safety regulations and high service charges are all contributing to making buyers hesitant. While the leasehold system in England and Wales is gradually being overhauled, there is still some way to go until changes are implemented. So if you are looking to sell a flat, it’s especially important you work with a qualified agent that has a good track record in that specific market.
Which homes are selling successfully?
All property types are selling when they’re priced correctly. Although the total number of sales agreed might be down slightly on this time last year, homes that are marketed at a realistic value from the start are still attracting offers.
5 top tips for selling this year
1. Speak to a good local agent about current demand in your specific area, so you understand the market conditions from the start and can set your expectations.
2. Have two or three appraisals so you get a feel for how different agents will work with you and market your home.
3. Price realistically from day one – make sure agents show you evidence of comparable recent sales, and don’t simply pick the highest valuation.
4. Instruct a legal company before you come to market so they can have the paperwork in place, ready for when you agree a sale – this is particularly important if you have a leasehold flat.
5. Be prepared to negotiate with interested buyers. Agreeing an earlier sale at a slightly reduced price may be better than risking sitting on the market for longer – remember that you’ll get the most interest in the first 2-3 weeks.
If you’re thinking of putting your home on the market in the next few months, we’d love to hear from you. Just get in touch with your nearest branch and one of our sales experts will be happy to arrange to arrange a free, no-obligation market appraisal.
