A new analysis shows exactly why it’s important to price a home for sale accurately, first time.

Comprehensive research by Connells shows that so far this year, homes that have been reduced are still 27% less likely to receive an offer than homes that have not been reduced.

The agency group – Britain’s biggest – says this shows two things: firstly, that many cuts are coming from a starting point that was too high, and secondly that successful sales are most likely if the first asking price is realistic.

On top of that, Connells says reductions are also proving slightly less effective than a year ago, with 38% leading to a subsequent offer this year, compared with 41% in 2025.

Even when a price cut does lead to an offer, it still takes time to translate into buyer commitment. 

In June (last month) the first offer following a reduction came, on average, 49 days later, only slightly faster than the 53 days recorded last year.

The company states: “Together, this points to a clear distinction between cutting the price and cutting it far enough. Reductions may reopen conversations with buyers, but homes that remain above

expectations are still unlikely to secure an offer, particularly now that buyers have more stock to choose from.”

This appears to be especially true for more expensive homes, where moves are often discretionary.

Some sellers are trimming asking prices, but not always enough to generate meaningful interest from buyers who are more cautious about stretching their budgets, Connells adds.

Elsewhere in its new research, the agency group says the wide market is still moving, even though homes take slightly longer to secure an offer than they did a year ago.

Across Great Britain, 52% of homes listed in January 2026 received an offer within six months of coming onto the market, compared with 58% at the same point last year. 

The share securing an offer within the first month also eased, from 42% in January 2025 to 38% this year.

But beneath the headline slowdown, the market is becoming increasingly polarised. 

Two and three-bedroom homes continue to outperform the rest of the market by some margin. 

Two-bedroom homes are the most likely to secure an offer within six months, with 55% doing so, closely followed by three-bedroom homes at 53%. 

By contrast, both larger homes and flats are taking longer to attract offers.

The market for premium five-bedroom homes has cooled most sharply, with the share receiving an offer within six months falling from 59% in 2025 to 41% this year. At the top end, decisions are often discretionary and buyers are typically more exposed to higher mortgage costs, particularly in southern markets where larger loans are needed to move up or across the housing ladder.

Connells warns that the divide is also visible by tenure. Freehold homes continue to hold up better, with 53% securing an offer within six months in 2026, compared with 58% last year. 

Leasehold homes have seen a sharper slowdown, with the share receiving an offer falling from 57% to 48% over the same period.