January house price cuts lure buyers

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January house price cuts lure buyers

More than a third of homes for sale across England are being marketed at reduced asking prices, offering scope for buyers wanting early-year savings before the market tightens.

An analysis from Benham and Reeves shows 37% of current listings have already been cut, creating a pool of potential January deals.

Yet the flow of fresh reductions is slowing, with only 0.8% of discounted properties added since 1 January, hinting that choice may shrink as momentum builds.

Researchers reviewed active listings nationwide to identify how many properties had been repriced and when those adjustments occurred.

Lower prices to find a buyer

Marc von Grundherr, a director of Benham and Reeves, said: “2025 was a steady but subdued year for the property market and, as a result, many sellers will have experienced little to no buyer interest, particularly across the more inflated regions of the South and London.

“So, it’s only natural that a sizeable proportion have resorted to reducing their asking price expectations in order to secure a sale and, as a result, there remains a strong opportunity for buyers to find a discounted property today.”

He added: “However, we’re already seeing early signs that the tide is beginning to turn.

“With Autumn Budget uncertainty now firmly behind us, both buyers and sellers have re-entered the market with renewed confidence and those vendors who have listed their home during the opening days of 2026 have been far less willing to budge on price.”

Vendors will negotiate

The firm’s data shows that 337,071 homes are available, with 125,216 now being offered below their original price.

That leaves more than one in three properties with room for negotiation at the start of 2026.

The South East leads on repricing, where 39% of homes on agents’ books carry a reduction.

The South West follows at 38.9%, with the East of England close behind on 38.4% and London records 37.9%.

However, despite that range of choice, signs suggest the trend is already easing.

The firm says that just 1,003 of the reduced-price homes entered the market during the first seven days of the year.

That, it says, reflects greater reluctance among new vendors to soften their stance, even though later adjustments remain possible.

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