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. Check the mortgage offer for any valuation fee.
• 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 professional opinion prepared to RICS standards. It may be useful for an estate, divorce, tax or another purpose needing an independent figure. Valuing an estate for Inheritance Tax does not automatically require a formal RICS valuation.

What actually determines your home’s value

The value of a home depends on the property and its local market. In July 2026 the official provisional averages were £293,000 in England, £215,000 in Wales and £196,000 in Scotland. Northern Ireland is published quarterly: the latest figure was £202,000 for April to June 2026. Annual price growth ranged from +4.9% in the North East of England to -3.3% in London in July. These regional averages are not valuations of a particular home.

• 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 annual house-price growth was 1.4% in July 2026 (provisional), down from a revised 1.5% in June. The June figure had initially been reported as 2.0%, showing why the first estimate should not be treated as final.

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. Get separate quotes for a standalone valuation and a survey with valuation before comparing the cost.

You do not automatically need a formal valuation to set an asking price; an estate agent’s view, online estimates and comparable completed sales can help you decide. If you are handling an estate, you must value its assets for Inheritance Tax purposes before applying for probate, but GOV.UK does not say that every property needs a formal RICS valuation. You can hire a professional where the value is uncertain or the estate is complicated. A formal valuation may also be useful for divorce, a major refinance or another decision needing 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: the gap varies by area, property and timing. The official UK HPI put average completed-sale prices at £273,000 in July 2026 (provisional), while Rightmove put the average asking price of newly listed homes at £364,999 in August 2026. Those are different properties measured at different stages and months. Their difference is not a discount to asking. Compare recent completed sales of genuinely similar local homes before setting an offer or asking price.

Frequently asked questions

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

Source: ONS - Private rent and house prices, UK: September 2026 — July UK and regional HPI, published and checked 16 September 2026; provisional

Source: Rightmove House Price Index August 2026 — August asking-price reading checked 8 September 2026

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

Source: GOV.UK - How to value an estate for Inheritance Tax and report its value — Estate valuation guidance checked 16 September 2026; no blanket RICS-valuation requirement