Why 1 in 7 Reading Homeowners Have Cut Their Asking Price in 2025

Why 1 in 7 Reading Homeowners Have Cut Their Asking Price in 2025

As Reading’s property market shifts and grows, sellers who've been on the market a while often face a tricky question: when—and by how much—should they adjust the asking price to spark new interest?

With the number of homes for sale in Reading’s RG1, RG2, RG4 and RG6 postcodes jumping from 1,155 in March 2022 to 1,518 by March 2025, the playing field has become more crowded. That means smart, strategic pricing is now more important than ever if you want to stand out and get sold.

Cracking the Code: Price Bands on the Property Portals

One of the easiest ways to get more eyeballs on your home is to work with—not against—the price filters buyers use. Portals like Rightmove, Zoopla, and OnTheMarket group listings into predefined price bands, which buyers often use to narrow their searches.

Listing at a ‘round number’ like £400,000 instead of £399,950 can double your visibility. Why? Because it puts you in both the £375k–£400k and £400k–£425k brackets—meaning more people see your home, and more viewings follow.

The Power of the Price Drop

Thinking about lowering your price? Timing and the amount matter.

• On Rightmove and OnTheMarket, your home won’t trigger new email alerts unless the price is reduced by at least 2%.

• On Zoopla, you’ll need to cut by 3% to reappear in front of active buyers.

In a crowded market, this small tweak can make a big difference—getting your home back in front of fresh eyes, and back on the radar of buyers ready to move.

Reading’s Property Market: What’s Really Happening with Asking Prices?

Lately, a number of local movers have told me they’ve noticed more properties dropping their prices compared to a couple of years ago—and they’re not wrong.

As mentioned earlier, the number of homes for sale in Reading has grown significantly in recent years. And with more stock on the market, it’s no surprise that price reductions are on the rise too.

Back in 2022, there were an average of 149 price reductions per month across Reading. Fast forward to today, and that figure has increased to 215 per month.

So while more reductions are happening in absolute numbers, the percentage of homes reducing their price each month has stayed relatively consistent.

In fact, over the last five years and three months, around 1 in every 7.45 Reading homes—13.42%—have reduced their asking price each month.

So yes, more reductions are happening—but that’s largely because there are simply more Reading homes on the market. The underlying pattern? It’s business as usual—just with more competition.

Historical Context: Price Reduction Trends in Reading

• 2020 – 12.8% of 1,465 properties reduced their asking price each month

• 2021 – 11.5% of 1,336 properties

• 2022 – 12.8% of 1,155 properties

• 2023 – 14.8% of 1,341 properties

• 2024 – 14.5% of 1,471 properties

• Q1 2025 – 14.5% of 1,488 properties

Graph: Monthly percentage of Reading homes reducing their asking prices (2020–Q1 2025)

Getting Your Price Right in Reading

When it comes to selling your Reading home, pricing it correctly from the start can make all the difference. Homes launched at an inflated price often sit on the market, eventually needing bigger price cuts to reignite interest.

On the flip side, properties priced sensibly from day one tend to attract more viewings and offers—quickly and with fewer compromises.

If you’re tempted to ‘test the market’ with a high figure, be ready to pivot fast. Dropping the price within the first 2 to 4 weeks can keep your listing fresh and competitive. Wait 2 to 4 months, and you risk losing serious momentum.

Six Signs It Might Be Time to Review Your Asking Price

1. Hardly Any Viewings
If the phone’s not ringing, check your photos, description, and how your listing compares to similar homes. If everything looks sharp but viewings are still slow, pricing could be the issue.

2. Plenty of Viewings, No Offers
The average Reading home takes 8 to 10 viewings to generate an offer. If you’re hitting that mark—but offers aren’t coming—buyers may feel the price is too high. Many won’t offer low for fear of causing offence, so consider adjusting your price to invite interest.

3. Only Lowball Offers
If you’re consistently receiving low offers, it could reflect your home’s perceived value. Remember: your home is worth what someone is willing to pay—not what you or your agent hope it’s worth.

4. A Crowded Market
Got a 1-bed Reading flat? Check how many similar properties are listed—and which are ‘sold STC’. Those give the best clues about pricing that works.

5. Seasonal Slowdowns
The Reading market ebbs and flows. Listing in the peak period of spring needs a different strategy to quieter months like July, November, or December. Stay flexible.

6. Viewer Feedback
If multiple viewers are hinting—or outright saying—that the price feels high, take it seriously. Consistent feedback is a red flag.

Not Sure What to Do Next? Let’s Talk

The Reading property market isn’t always straightforward. If you're already on the market and wondering whether to tweak your price—or you’re just gearing up to sell your Reading home—let’s have a chat. Request a Valuation | My Bespoke Agent

No pressure, no strings attached. Just honest advice from someone who understands the local market and will tell you what you need to hear—not just what you want to hear.