If you’re thinking, “How much could I sell my house for this autumn?”, the latest London figures are a useful starting point, but they’re not a valuation of your home.
London prices fell 3.3% year on year in July, according to the latest UK House Price Index. The contrast with the North East, where prices rose, shows just how different local markets can be.
For London sellers, the practical message is clear: buyers are still out there, but they’re price-conscious. A realistic asking price, based on evidence from your area, can help you attract interest and keep a sale moving.
What’s Happening in London?
The 3.3% fall is an average across London. It gives useful context, but it doesn’t tell you exactly what your particular flat or house is worth. Location, property type, condition and recent sales nearby all matter.
The prime market shows another side of the picture. Savills’ Q3 2026 update reports that prime central London values fell 1.5% in the quarter and 4.8% over the year. Prime outer London fell 1.1% in the quarter and 3% annually. Its steepest annual fall in more than eight years. In central London’s most expensive neighbourhoods, prices are 27% below their 2014 peak.
These figures don’t mean every London home has lost the same amount. A family house in one neighbourhood may be drawing strong interest while a similar-looking flat elsewhere takes longer to sell. That’s why local, property-specific advice matters more than applying a citywide percentage to your asking price.
Are Buyers Still Looking?
Yes, but they’re careful about what they pay.
The encouraging sign is that the pace of decline is slowing as sellers adjust their expectations. Savills reports that agreed sales above £1 million and £2 million reached 94% of their level a year earlier in Q3. That’s not a guarantee of a quick sale, but it does show that deals are still being agreed.
Buyers with a clear reason to move are active. They’re also paying close attention to price. The £2 million mark has become an important dividing line, with uncertainty around the proposed High Value Council Tax Surcharge adding to caution above that level. Homes below £1 million are holding up better: Savills reports an annual fall of 1.3%, compared with 2.5% for homes at £2 million and above.
The takeaway isn’t to rush into a price cut. It’s to understand where your home sits in the current market, and whether your asking price gives the right buyers a reason to book a viewing.
How Should You Price?
Start with recent completed sales in your immediate area, not just current asking prices. An asking price shows what another seller hopes to achieve; a completed sale offers stronger evidence of what a buyer has paid.
When comparing properties, look beyond the number of bedrooms. Consider the type and size of the home, its condition, outside space, parking and, for flats, lease details and service charges. Even nearby streets can attract different buyers and achieve different prices.
A good valuation should explain the evidence, not just give you a figure. Ask your estate agents which recent sales they’ve used, how your property compares and what could affect buyer demand. If valuations differ, ask each agent to talk you through the reasoning.
Then agree a clear plan before you go to market:
- Set an asking price that makes sense against comparable homes buyers can choose today.
- Consider common search-price brackets, but don’t use a threshold to disguise a price that the evidence doesn’t support.
- Make the listing easy to act on, with clear information, good photography and viewing times that work for buyers.
- Agree when you’ll review interest. If viewings or feedback are weaker than expected, discuss a meaningful adjustment rather than letting the listing drift.
Over-pricing can stall a sale. Buyers may skip past a home that feels out of reach, and a long period on the market can make them wonder whether there’s a problem. Starting at a well-supported price helps you make the most of your launch, while leaving room to consider genuine offers.
Is an Online Valuation Enough?
A property valuation online can be a helpful first step. It gives you an initial estimate and can help you decide whether to explore a sale.
But an online estimate can’t see everything that might shape a buyer’s view: the condition of your home, its layout, natural light, outlook or the details of its finish. Nor can it always reflect the latest activity on your specific street.
For a clearer picture, combine an online estimate with a conversation and an in-person assessment. A hands-on valuation gives you the chance to explain your plans, ask questions and understand the local evidence behind a recommended asking price. You can request a free online estimate or book a valuation with Lyss Homes to talk through your home and your options.
Sell or Let?
If you’re deciding whether to sell or let, London’s rental market is worth considering. Rightmove puts the average advertised rent for a whole London property at about £2,791 a month in Q3 2026, up 2.9% year on year. Separately, SpareRoom’s Q3 data puts the average rent for an inner London room at £1,002 a month, with available room listings down 7.3% year on year. These are different measures: one is for whole properties, the other for rooms in flatshares.
Strong rents may make letting an option, but the headline figure isn’t the same as your return. Before deciding, consider your mortgage, service charges, repairs, periods without a tenant and the time involved in managing a property. If you’d prefer support, Lyss Homes’ fully managed lettings service includes free Rent Protection and Eviction Cover.
The right choice depends on your plans as well as the numbers. If you’re unsure, a valuation can help you understand what selling might achieve before you commit either way.
What’s Your Home Worth?
London’s headline figures explain the direction of the market, but they can’t tell you what your home is worth today. That depends on your property, your location and what buyers are choosing between right now.
A free, no-pressure valuation from Lyss Homes can help you see where you stand. Our local team will give you honest advice, explain the evidence and keep you updated, whether you’re ready to sell or still weighing up your options.