Welcome to our weekly property update. The week shows strong numbers with a clear indication of market strength. Let’s delve into the key figures:
Listings: Healthy Growth
This week, we’ve seen 37,900 new listings, an increase from 35,800 last week. We’re seeing an 8% increase compared to Week 7 of 2024, and a significant 9.3% increase compared to the pre-pandemic levels of 2017, 2018, and 2019. This suggests a healthy flow of properties entering the market.
Price Reductions: Meeting Buyer Expectations
While new listings are up, we’re also seeing a fair amount of price adjustments. This week, 22,600 properties have seen price reductions, this translates to approximately 1 in 8 residential sales stock properties per month being reduced (12%). While this figure might seem high, it’s worth noting that the average for 2024 was 11.9%, and the long-term 5-year average is 10.6%. Price reductions can indicate a recalibration of prices to meet buyer expectations.
Total Gross Sales: Positive Momentum
Sales are showing positive momentum, 27,600 UK homes were sold STC (Subject to Contract) this week, slightly up from 27,400 last week. Compared to 2024, sales are up by an impressive 18%, and they’re also 27% higher than the 2017, 2018, 2019 figures. This strong sales performance is a clear indicator of market strength.
Sale-Through Rate: A Closer Look
The sale-through rate was 16.2% in February. This is slightly below February 2024’s 16.7%, and the long-term 8-year average of 17.9%. The February sales-through rate indicates a slightly less efficient market compared to both February of the previous year and the broader long-term average.
Sale Fall-Throughs: Navigating Challenges
Last week, there were 6,135 fall-throughs from a residential sales pipeline of 451,074 homes sold STC. This week, fall-throughs represent 22.3% of gross sales, slightly above last week’s 22% but still below the 7-year average of 24.2% and significantly lower than the 40%+ levels seen post-Truss Budget in Autumn 2022. For February 2025 as a whole, 5.48% of sales in UK agents’ pipelines fell through.
Net Sales: The True Picture
To get a clear picture of market activity, we need to look at net sales (gross sales minus fall-throughs). This week, net sales were 21,400, compared to the 2025 weekly average of 19,500. The 2025 figure is 15% higher than 2024 and 21% higher than the figures for 2017, 2018, 2019.
Conclusion
Overall, the data suggests a UK property market with increasing listings, strong sales figures, and a degree of price adjustment. While sale fall-throughs remain a factor, they are currently below long-term averages.
Frank Marketing is here to help you grow your market share regardless of what the market is doing. Contact us today to discuss your property marketing needs.
