Listings are climbing, sales remain steady, and price sensitivity is rising. As we move deeper into summer, the market’s showing strength, but sellers need to stay realistic. Here’s what you need to know this week.
Listings: Seller Confidence Holds Firm
Another 36,900 homes came to market this week, a marginal increase from 36,700 the week before. Year-to-date, new listings are 4.7% ahead of 2024 and 7.7% above the pre-Covid norm (2017, 2018, 2019). This consistency in supply shows that seller confidence is holding firm, even as mortgage rates remain sticky and competition among listings intensifies.
Price Reductions: Warning Signs for Overpricing
There were 27,500 price reductions this week, up from 26,700. That’s 14.1% of homes reduced monthly, compared to 14% in June and 13.4% in May. While not yet a drastic shift, the trend is edging upwards. Sellers who overprice are finding it harder to secure viewings, with buyers more price-conscious amid wider economic uncertainty. The gap between listed and sold prices may widen if this continues.
Total Gross Sales (Agreed Sales): Momentum Dips Slightly
Sales agreed came in at 26,600, down from 27,500 last week. It’s a typical mid-summer slowdown, but there’s no major cause for concern. Year-to-date, 691,000 homes have gone under offer, 7.7% ahead of 2024 and 15.6% above the 2017, 208, 2019 average. Despite more cautious buyer behaviour, demand is still out there; but it’s more selective.
Sell-Through Rate: Sliding Back
June’s sell-through rate came in at 15.3%, a slight drop from 16.1% in May. It matches the 2024 average but sits below the longer-term average of 17.9%. This reflects a higher volume of listings competing for fewer serious buyers. Agents who nail pricing from day one are the ones converting.
Sale Fall-Throughs: Edge Above Average
There were 6,664 fall-throughs last week, with the fall-through rate creeping up to 25.1% of gross sales. That’s up from 23.7% the previous week. While still well below the chaos post-mini budget in 2022, the uptick may reflect more complex chains, tighter lender scrutiny, or buyers walking away due to down-valuations or cost fears.
Net Sales: Stable Despite Slowdown
Net sales dipped slightly to 19,900 from 21,000 last week. But the bigger picture still looks positive. 2025 is running 5.7% ahead of 2024 and 10.7% ahead of the 2017, 2018, 2019 average, with 529,000 net sales logged so far this year. Buyers are still committing, just more carefully.
% Chance a Home Will Sell: Coin Toss for Many
Latest June figures show 49.1% of homes leaving estate agents’ books resulted in a completed sale. That means more than half left the market unsold. With buyer demand patchy, getting the marketing and pricing spot-on remains essential. Sellers who get it wrong risk wasting the summer window.
Stock and Pipeline: Still Above Last Year
At the start of July, there were 758,000 homes on the market, 8.3% more than this time last year. Pipelines are also stronger, with 496,000 homes Sold Subject to Contract (SSTC), up 4.9% year on year. Supply is healthy and so are pipelines but turning those into completions is where agents must focus.
House Prices: Edging Up Modestly
Agreed sales in June hit £346.45 per square foot, up 2.46% on June 2024 and 1.48% on June 2022. Modest growth suggests buyers are willing to pay for well-priced, high-quality stock. But it’s also a sign that overambitious asking prices are being corrected before contracts are exchanged.
Rental Market: Relentless Pressure
The average rent hit £1,826 per month in June, up from £1,758 a year ago. Rents continue to rise due to constrained supply, especially in urban hubs and university towns gearing up for autumn. For agents, this creates both an opportunity and a challenge – more demand, but also more tenant scrutiny and pressure on service levels.
In Summary
The summer market remains active, but not easy. Sellers are willing, but buyers are cautious, and only the best-priced, best-marketed homes are moving quickly. Price reductions are creeping up and fall-throughs are rising, but the fundamentals are still better than they were a year ago. Agents who focus on quality listings, realistic valuations and proactive chain management will thrive.
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.
