UK seller-asking-to-mortgage-approval gap widens to 28.7% in Q1 as sellers firm up on price

Benham and Reeves' Q1 2026 Property Market Review put the average UK house price at £305,092, up 0.3% on the quarter, while the gap between sellers' asking prices (£369,028) and the prices buyers actually got approved on a mortgage (£286,729) widened to 28.7% — ending three quarters of narrowing. For sellers, the firmer asking line reflects renewed confidence; for buyers, the 27.3% gap between asking and sold prices shows offers are still landing well below the ticket. Realistic pricing remains the difference between a sale and weeks on the market, particularly outside London where the asking-to-sold gap is moving the other way.