This week’s numbers reveal a market with both resilience and nuanced shifts. Drawing on the most recent data, we’ll break down the key trends in listings, price reductions, sales, and more.
Listings: A Steady Flow of New Properties
The number of new properties coming to market remains robust. This week saw 41,100 new listings, a slight dip from last week’s 41,300. However, the bigger picture shows a healthy trend: new listings are up 9% compared to the same week in 2024 and 9% higher year-to-date compared to the average of 2017, 2018, 2019. This consistent flow of new properties provides ample choice for buyers.
Price Reductions: Sellers Adjusting to Market Conditions
In a market where supply and demand are constantly finding balance, price adjustments are a key indicator. This week, 24,900 price reductions were recorded. Currently, the run rate is that 1 in 7.5 residential sales stock per month is being reduced, which represents 13.4%. This is above the 2024 average of 12.1%, and also higher than the long-term 5-year average of 10.6%. This suggests sellers are needing to be realistic with pricing to secure a sale.
Sales: Strong Performance with Slight Fluctuations
The volume of agreed sales remains strong. 27,300 UK homes were sold STC (Sold Subject to Contract) this week. While this is slightly down from the near 3-year record-breaking 28,000 residential gross sales a fortnight ago, the overall trend is positive. Year-to-date, agreed sales are 14% higher than in 2024 and a significant 22% higher than the 2017, 2018, 2019 levels.
Sell-Through Rate: A Measure of Market Velocity
The sell-through rate, which measures the percentage of estate agents’ properties on the market that go sale agreed, provides insight into market velocity. In March, the sale run rate was 16.3%. This compares to a 2024 monthly average of 15.3% and a long-term 8-year average of 17.9%.
Sale Fall-Throughs: Understanding Transaction Challenges
It’s important to acknowledge that not all agreed sales reach completion. Last week, there were 6,275 sale fall-throughs from a residential sales pipeline of 467,414 homes sale agreed (sold STC). Looking at fall-throughs as a percentage of gross sales, this week’s figure is 23% (compared to 23.7% last week). This is just above the 7-year average of 24.2% and significantly below the 40%+ levels seen post-Truss Budget in Autumn 2022. Last month, 5.75% of sales in UK agents’ pipelines fell through, compared to a 2024 average of 5.36%.
Net Sales: The Bottom Line
Taking into account fall-throughs, net sales this week were 21,000 (the same as last week), compared to the 2025 weekly average of 20,100. Year-to-date, net sales are 11% higher than in 2024 and 15.9% higher than the 2017, 2018, 2019 figures.
Conclusion
The UK property market continues to demonstrate a mix of positive momentum and necessary adjustments. Strong sales figures and a healthy flow of new listings are encouraging, while price reductions and sale fall-throughs highlight the importance of realistic expectations and navigating potential transaction challenges.
Frank Marketing: Your Property Market Partner
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