Choosing the right asking price for your home can feel like a balancing act. If the price is too high, buyers may not even schedule a viewing. If it is too low, you risk losing money that you could have otherwise earned. So, what is the smart way to set that magic number?
Related: Guide to selling a flat
What is meant by asking price?
The asking price is the amount your home is marketed for when it goes up for sale. Think of it as your starting point, the first figure buyers will see before they even scroll through the photos.
It does not always match the final sale price, but it sets the tone for negotiations. A realistic asking price can encourage competitive bidding between buyers, while an unrealistic one may leave your property sitting on the market for longer than you would like.
Why the asking price is vital to selling
First impressions count. A well-judged asking price makes your home appear fairly priced in the market and encourages buyers to book a viewing. An unrealistic one can put them off before they have even stepped through the door.
The property market is competitive. Buyers often compare similar homes in the same area, so they will quickly spot if one is overpriced. If your asking price is too ambitious, your property could sit on the market for months without offers. This can lead to price reductions, which sometimes make buyers suspicious about why the property has not sold already.
Set the price correctly from the start, and you are more likely to generate steady interest, viewings, and ultimately, offers.
Related: How much is my home worth
Will you have to negotiate after setting your asking price?
Yes. Negotiations are almost guaranteed. Most buyers expect a little wiggle room, and very few homes sell for the exact asking price.
Recent figures from Zoopla show that while prices have crept up, they remain subdued. This means buyers will still feel confident about negotiating, and sellers should factor that into their expectations.
The key is not to be disheartened when an offer comes in below the asking price. Instead, think of it as the beginning of a conversation. A good estate agent will know how to handle this stage to keep the buyer engaged while protecting your bottom line.
What to consider when setting the right asking price?
House valuation
Start with a professional valuation from a local estate agent. At Nicholas Humphreys, we combine data with local knowledge to give you an accurate picture of what your home could sell for. You can then decide how that sits with your goals, whether it is a quick sale or the best possible price.
Do not be tempted to choose the highest valuation you receive without question. Some agents may provide an inflated figure to win your business. Always ask to see evidence of similar properties that have sold recently and how those compare to yours.
Assessing the current housing market
The UK housing market is moving, but only gently. Zoopla reports the average house price in June 2025 was £268,400, up just 1.3% or £3,350 over the past year. Their forecast for house price growth in 2025 has been revised down from +2% to +1%.
Meanwhile, the CBI projects UK GDP growth at 1.2% in 2025, a downgrade from previous expectations, with growth slowing further to 1.0% in 2026.
In short, the market is not booming, so realistic pricing is essential if you want your home to stand out and sell.
Considering the condition of your property
Homes that feel ready to move into usually attract stronger offers. A lick of paint, fixing those little DIY jobs, and giving the garden a tidy can all help buyers picture themselves living there.
Buyers will mentally subtract the cost of improvements from the amount they are willing to offer. If your property feels tired, you may need to accept a lower price or take the time to make cost-effective improvements before putting it on the market.
Considering how fast you would like to sell
Your timescale matters. If you are aiming for a quick move, perhaps to secure your next purchase, you may need to be more competitive with pricing. This can mean setting your asking price slightly lower than similar properties to generate faster interest.
If you are not in a rush, you can afford to hold out for a higher offer. However, patience only works if the initial asking price is realistic enough to attract steady enquiries.
Related: How to sell your home
Setting a minimum price
Work out your walk-away figure, the lowest amount you would be prepared to accept. This gives you confidence when offers come in and helps you negotiate effectively.
Knowing this figure also stops you from making decisions in the heat of the moment. If you receive an offer close to your minimum, you can weigh up whether it fits with your moving plans rather than making an emotional choice.
Do not be blinded by sentiment
It is natural to feel emotionally attached to your home, but buyers do not share the same memories. They see bricks, mortar, and potential. Try to view your home as a property for sale rather than the place you have lived.
This mindset helps you make clearer, more practical decisions. Remember, the goal is to attract the right buyer at the right price, not to hold out for an amount based on personal attachment.
Do you need help selling your home?
Setting the right asking price is not just about maths. It is about understanding buyers, local demand, and the market as it stands right now. That is where Nicholas Humphreys can help.
Our local estate knows how to position your home to get the best result, whether that is speed, certainty, or maximum value.
