How much is my house worth? A UK home valuation guide

The honest answer is that a home does not have one fixed value - it has a price someone will pay, which depends on how it is valued and the market at the time. There are several ways to get a figure, from a free online estimate to a formal RICS valuation, and they answer different questions. This guide explains each, what determines your home’s value, and whether a paid valuation is worth it.

Your home’s value is not one number

A valuation, a price and an asking price are different things. A valuation is a professional opinion of worth. The asking price is what a seller or agent chooses to list at, which may be above or below what buyers will pay. The achieved price is what a sale actually completes at. Official data separates these: Rightmove tracks asking prices of newly listed homes, while Zoopla and the Land Registry track achieved sale prices.

The ways to value a home

• Lender or mortgage valuation - a limited check carried out for the mortgage lender to confirm the property is worth what they are lending. RICS notes it is for the benefit of the lender, not the buyer or owner, and does not include the detail of a survey. Often free or folded into the mortgage fees.
• Survey with valuation - an RICS Level 2 Home Survey can be bought as survey only, or survey plus a market valuation and insurance reinstatement figure. This is a professional opinion alongside a condition report.
• Online or automated valuation tools - instant estimates from the property portals using automated valuation models (AVMs). RICS notes the market is increasingly adopting AVMs, but also that they bring challenges; treat them as a rough starting point, not a formal valuation.
• Estate agent valuation - a free agent valuation sets a likely asking price to market the home. It is a marketing number, not a formal valuation.
• Formal RICS valuation - a full valuation to RICS standards, used for probate, divorce, tax or an accurate market figure. Required for probate when Inheritance Tax is owed.

What actually determines your home’s value

The value of a home comes down to a handful of factors, and location dominates. In the 12 months to June 2026, average prices were £293,000 in England, £213,000 in Wales, £195,000 in Scotland and £202,000 in Northern Ireland. The growth varied just as much: the North West led at 4.7%, while London prices fell 2.5% over the same period.

• Location and local market - the single biggest factor; the same house in different areas is worth very different amounts.
• Size and rooms - the UK House Price Index model uses floor area and number of rooms, and a 2025 data improvement gave it more reliable information on these attributes. Size and layout move the number.
• Condition - a home that needs work sells for less than one that is ready to move into.
• Comparable sales - what similar homes nearby actually sold for is the strongest evidence of value.
• Market timing - prices move with supply and demand. UK average prices rose just 0.1% between May and June 2026, with annual growth of 2.0% in the year to June, down from a revised 3.0% in the year to May.

How surveyors and agents value a property

Professional valuers work primarily from comparable evidence - recent sales of similar properties. For RICS members this is governed by the Red Book (RICS Valuation - Global Standards, effective 31 January 2025) and a dedicated professional standard on comparable evidence. They adjust comparable sales for differences in size, condition, location and timing to arrive at a valuation for your specific home.

Valuation vs survey: the key difference

A valuation is about how much a home is worth. A survey is about its condition. A lender’s valuation is a brief check for the lender and will not flag costly problems, which is why a house survey is recommended before you buy - it gives an expert account of the property’s condition and can let you renegotiate on defects. For this reason, see our survey comparison and survey cost guide.

What a professional valuation costs - and whether you need one

Survey and valuation costs are variable, not officially fixed. HomeOwners Alliance puts 2026 survey costs at roughly £300 to £1,500+, with typical ranges of £300 to £900 for Level 1, £400 to £1,000 for Level 2, and £630 to £1,500 for Level 3; RICS says Level 1 starts at a few hundred pounds and some bespoke Level 3 work exceeds £1,000. A standalone market valuation is cheaper than a full survey.

You do not need a formal valuation in most everyday situations - an estate agent’s free valuation and online estimates are enough to price a sale. You do need a formal valuation for probate if Inheritance Tax is owed (you must value the estate of someone who has died before applying for probate), and it is valuable for divorce, a major refinance, or when you want an independent figure.

How much above or below asking do homes sell?

There is no single reliable figure for how far homes sell above or below asking, because it varies by market, region and price bracket. The current market context helps: in June 2026 the average achieved UK price was £271,900 (Zoopla, up 1.5% on the year), while the average asking price was £376,191 (Rightmove, down 0.5% on the year). The gap between those reflects that asking and achieved prices differ, and that newly listed and sold homes are different samples. Sales agreed were running around 6% to 7% below last year in June 2026, so this is a buyer-friendly market in many areas.

Frequently asked questions

Source: RICS - House surveys: costs, types and benefits — Valuation vs survey, survey levels and costs checked 20 August 2026

Source: GOV.UK - UK House Price Index summary June 2026 — Regional prices and market growth checked 20 August 2026

Source: Zoopla House Price Index June 2026 — Achieved price and sales-agreed figures checked 20 August 2026

Source: Rightmove House Price Index June 2026 — Asking price figures checked 20 August 2026

Source: HomeOwners Alliance - How much does a house survey cost? — Survey cost ranges checked 20 August 2026