The most overpriced town in England
Key Points
- UK homeowners are losing an average of £33,597 by listing their homes for too much money.
- Homes which needed three or more reductions sold for 13.3% below the original launch price.
- Based on the data, the town of Colyton in Devon was the most overpriced town last year.
- Wales was the hardest hit region, with an average gap of 5.2% between the first listed price and the final sold price.
UK homeowners are losing an average of £33,597 by listing their homes for too much money, new data from the We Buy Any Home and Tytl shows.
The data, which is included in the Property Markdown Index 2026, is based on 887,882 completed sales across England and Wales between 2023 and 2025, with the national median property value being £298,5000 during this time period.
The report shows 36.2% of all homes put up for sale last year needed at least one price before sale completion, up from just 8.1% in 2023.
The data shows that each additional price drop costs the seller around £12,000, and properties reduced three times or more spend an extra 10 weeks on the market.
Homes which needed three or more reductions sold for 13.3% below the original launch price – an average of £51,026 off the initial asking price. By comparison, listings which never dropped in price sold 2.5% below asking.
The most overpriced town
Based on the data, the town of Colyton in Devon was the most overpriced town last year, with a 16.02% gap between the average first listed price and the price the home eventually sold for.
The full top five includes:
- Colyton (Devon)
- Church Stretton (South Shropshire)
- Etchingham (East Sussex)
- Lyndhurst (Hampshire)
- Amlwch (Wales)
Regional differences
Wales was the hardest hit region, with an average gap of 5.2% between the first listed price and the final sold price. Homes typically sat on the market for 194 days.
London followed Wales with a average gap of 5%, with around 39% of properties reduced from their initial listing. The East Midlands recorded a gap of 4.8% with 37% of homes needing a change. The East of England (4.7%) and the South West (4.6%) followed behind.
By comparison, the North East was the most resilient market, with an average discount of just 2.9%. 28% of homes were reduced with the average time on the market sitting at around 171 days.
Firs three weeks are the most crucial
“House prices surged in 2020 and 2021 and many homeowners expected this trend to continue. But demand has softened and anyone with a home on the market at the moment knows the reality – it’s difficult out there,” said Elliot Castle, Chief Executive of We Buy Any Home.
“Our research shows optimistic estate agents are taking instructions and letting vendors see the realities of the market themselves, which often means a huge impact in the eventual agreed sale price,” Castle said.
Castle noted that the first three weeks on the market are crucial as that’s when estate agents are taking instructions and when potential buyers are more likely to jump on a deal. He added that price reductions also weaken your negotiating power, leaving less room to haggle.
This was echoed by Tom Neall, Chief Operating Officer of Tytl, who noted that too much time on the market can also be damaging for buyer optics.
“When a property lingers, buyers grow suspicious and perceived value drops. The home becomes stale in the eyes of the market and no amount of subsequent price cutting fully restores that initial excitement a new listing generates,” Neall said.
