Data from 6,000 branches shows patience, but not too much, pays off
Homeowners seeking to maximise their property’s sale price should aim to complete a sale within 11 days of listing, according to new research from the HomeOwners Alliance.
An analysis of data from 6,000 estate agency branches across the UK found that homes sold within this timeframe typically achieve 100.4% of the asking price, securing about £1,000 more on an average-priced property.
The research identified a clear link between time on the market and the final sale price. Properties that remain unsold after 30 days typically achieve only 98% of the asking price, while those lingering for three months fall to 95.5% of the original valuation.
With the average UK home currently priced at about £270,000, these percentage declines translate into sizeable losses. Homes sold after one month typically lose about £5,400, while the figure rises to about £18,400 after three months on the market.
Holding out too long comes with a clear cost
However, selling too quickly can also prove costly. Homes snapped up within seven days or less typically achieve just 94% of the asking price, leaving sellers about £16,000 worse off on an average-priced property.
Paula Higgins, founder and chief executive of HomeOwners Alliance, said: “Right now every pound matters to homeowners. Our data shows there is a sweet spot when selling a home and that is around 11 days. Sell too fast and you leave money on the table. Let it drag on over a month and buyers start knocking thousands off the price.”
Higgins said the focus should be on choosing the right agent rather than rushing a sale. “The agents who consistently sell in around 11 days are the ones achieving the best prices,” she said. “When a home sits on the market for weeks, it is often a sign something needs to change.”
The research, conducted using the organisation’s Best Estate Agent Finder tool, suggests several ways to improve results. These include appointing an experienced estate agent, setting the right initial price, instructing conveyancing solicitors early in the process, and preparing the property thoroughly before it is listed.
The findings come as the average asking price for UK homes fell by 0.1% over the past year, according to Rightmove’s September House Price Index, suggesting sellers are trying to price more accurately from the outset in a cautious housing market.
The HomeOwners Alliance also recommends considering chain-free buyers who are not dependent on selling their own homes, as a way to speed up transactions while still securing strong prices.
