Stock is still strong, sales are steady, and fall-throughs have eased slightly. But with listings dipping and sell-through rates still soft, success hinges on realistic pricing and proactive selling.
Here’s what’s happening in the market right now.
Listings: Fewer Homes Coming to Market
This week saw 34,300 new listings, down from 35,900 last week. It’s a seasonal dip, not a sign of weakening seller confidence. Year-to-date, listings are 4.4% higher than 2024 and 7.2% ahead of the pre-Covid average (1.037m vs 993k). Stock levels remain solid, which gives buyers more choice and sellers more competition.
Price Reductions: Holding Firm
Price reductions came in at 25,600. That’s 14.1% of homes on the market, consistent with June and May levels. It’s higher than the 2024 average (12.1%) and well above the 5-year norm (10.6%). That tells us sellers are still adjusting expectations post-listing. Agents who guide on pricing early are avoiding unnecessary delays and cuts.
Sales Agreed: Stable but Selective
Sales agreed were 26,300, a marginal dip from 26,400 last week. However year-to-date, 743,000 homes have SSTC (Sold Subject to Contract), this is 7.6% more than 2024 and 14.6% above the pre-Covid benchmark. Buyer demand remains healthy but more focused where pricing and presentation still matter.
Sell-Through Rate: Soft but Steady
June’s sell-through rate held at 15.3%, down from 16.1% in May and still below the 8-year average of 17.9%. This shows that while stock is moving, more than 8 in 10 homes listed remain unsold in a given month. Standout listings with sensible pricing are what’s converting.
Fall-Throughs: Improvement at Last
6,494 fall-throughs were reported, slightly better than last week’s 6,664. The fall-through rate is now 24.7%, edging back towards the long-term average of 24.2%. With fewer sales falling apart, agents can start to rebuild some confidence in pipelines.
Net Sales: Ticking Up
Net sales rose to 19,800 this week, up from 19,600. Year-to-date, net sales are 568,000, up 5.8% on 2024 and 10.5% above the 2017, 2018, 2019 average. That’s a strong sign the market is functioning well, even if momentum isn’t explosive.
% Of Homes Selling: Just Above Half
In June, 51.3% of homes that left estate agents’ books went all the way to completion. That’s a slight improvement from previous weeks and signals that pricing and process management are starting to pay off. But nearly half still leave the market unsold so the challenge remains.
Stock and Pipeline: Still Up Year-On-Year
At the start of July, there were 758,000 homes listed for sale, 8.3% more than last year. Sales pipelines stood at 496,000, 4.9% higher than July 2024. With more homes available and more sales progressing, the market is busy just not booming.
House Prices: Unchanged but Stable
Average sales agreed in June held firm at £346.45 per square foot, 2.46% higher than June 2024 and 1.48% above June 2022. House price growth remains modest but positive with stability preferred over spikes in the current climate.
Rental Market: No Signs of Slowing
Average rent stayed at £1,826 pcm in June, up from £1,758 last year. As student markets warm up and supply remains tight, the rental squeeze looks set to continue through summer.
In Summary
The market’s still ticking over nicely. Stock is high, buyer activity is steady, and pipelines are progressing. But in a market full of choice, the homes that sell are those priced right, marketed well, and managed effectively. Fall-throughs are easing, and net sales are rising, all signs that agents are adapting to the new normal.
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.
