Welcome to your in-depth look at the UK property market! This week, we’re diving into the key trends and figures to help you stay ahead of the curve.
What’s Happening with Listings?
The number of new properties coming to market is a crucial indicator of market activity. This week, we saw 37,500 new listings, a slight dip from the previous week’s 41,100. However, the bigger picture reveals a positive trend: new listings are up 8% compared to the same period in 2024 and 9% higher year-to-date compared to the 2017, 2018, 2019 average. This suggests a healthy flow of new properties entering the market.
Price Reductions: A Key Indicator
Price reductions can signal shifts in market dynamics. This week, 21,200 price reductions were recorded, with the monthly run rate indicating that 1 in 7.5 residential sales stock properties per month are being reduced, representing 13.4%. For context, the 2024 average was 12.1%, and the long-term 5-year average is 10.6%. It’s important to keep an eye on this trend as it can reflect changing buyer sentiment and pricing strategies.
Sales Performance: A Look at Agreed Sales
Despite the Easter weekend, 24,500 UK homes were sold STC (Sold Subject To Contract) this week. Looking at the year-to-date figures, the number of Sold STC residential homes is 13% higher compared to 2024 (394,000 YTD 2025 vs 350,000 YTD 2024) and a significant 20% higher than 2017, 2018, 2019 levels (328,000). This indicates strong underlying demand in the market.
Sell-Through Rates: How Quickly Are Homes Selling?
In March, the sale run rate was 16.3% of residential stock sold STC. This compares to a 2024 monthly average of 15.3% and a long-term 8-year average of 17.9%. This metric helps us understand the pace of sales in the current market.
Sale Fall-Throughs: Understanding Transaction Success Rates
It’s crucial to consider not just sales agreed, but also those that don’t make it to completion. There were 5,515 sale fall-throughs last week from a residential sale sales pipeline of 467,414 homes sale agreed. This week’s fall-through rate as a percentage of gross sales was 23% (compared to 23.7% the previous week). This is just above the 7-year average of 24.2%, but significantly lower than the 40%+ levels seen post-Truss Budget in Autumn 2022. Last month, the overall fall-through rate was 5.75%, compared to a 2024 average of 5.36%.
Net Sales: The Bottom Line
Considering both sales and fall-throughs, net sales this week were 19,000 (compared to 21,000 last week), with a 2025 weekly average of 20,100. Despite the Easter effect, the 2025 net sales are 10% higher than the same period in 2024 and 14% higher than the 2017, 2018, 2019 figures.
Market Stock and Sales Pipeline
As of April 1st, 2025, there were 705,000 properties on the market. Here’s a historical comparison for April 1st:
- 2024: 654,000
- 2023: 585,000
- 2022: 421,000
- 2021: 542,000
- 2020: 584,000
- 2019: 647,000
- 2018: 598,000
- 2017: 557,000
The residential sales sold STC pipeline as of April 1st, 2025, stood at 467,000. Here’s the historical context:
- 2024: 404,000
- 2023: 371,000
- 2022: 487,000
- 2021: 474,000
- 2020: 335,000
- 2019: 337,000
- 2018: 314,000
- 2017: 306,000
UK House Prices: The £/sq.ft Metric
The £/sq.ft metric continues to be a reliable predictor of Land Registry figures, with 92% accuracy. March’s final figure was £343/sq.ft. For comparison:
- December ’24: £335/sq.ft
- March ’24: £337/sq.ft
- March ’23: £333/sq.ft
- March ’19: £270/sq.ft
This indicates that UK house prices achieved on sales agreed in March 2025 were 2.36% higher than December 2024 and 1.63% higher than a year ago (March 2024).
In Summary
The UK property market in Spring 2025 presents a mixed picture of increased listings and sales compared to previous years, alongside some fluctuations in price reductions and sales fall-throughs. Staying informed about these key indicators is essential for making sound decisions in this dynamic market.
Frank Marketing: Your Property Market Partner
At Frank Marketing, we understand the ins and outs of the property market. We provide expert guidance and marketing strategies to help you achieve your business goals. Contact us today to learn more about how we can make your brand stand out in the ever-changing property market.
