This week, the market followed its autumn rhythm: slightly fewer listings, steady sales, and price reductions returning to peak summer levels. There’s no dramatic shift, but sellers hoping to move before Christmas need to act soon. The window is narrowing.
Listings: Back to Seasonal Average
34,300 new listings were recorded this week, down from 35,300 last week. That puts us exactly in line with the 9-year average for Week 39, but just under the 2025 average of 36,200. Year-to-date, 1.41 million homes have been listed, 2.4% up on 2024 and 10% ahead of the pre-Covid benchmark (1.28m).
Price Reductions: Creeping Back Up
There were 25,600 price reductions this week, slightly above last week’s 25,000. The monthly reduction rate climbed back to 14.1% in September, up from 11.1% in August (thanks, summer holidays). That matches July’s figure and reflects seasonal urgency as vendors adjust to shifting buyer appetite.
Sales Agreed: Back on Track
25,600 homes were sold subject to contract (SSTC), up from 25,000 the week before. That’s right on the 9-year average for this week (25,700), though still just below the 2025 weekly average of 26,100. Year-to-date, sales have hit 1.019 million, 5.3% up on 2024 and 13.3% ahead of the 2017–19 average.
Sell-Through Rate: Still Sliding
The September sell-through rate dropped to 14.1%, down from 14.5% in August, and below the pre-Covid average of 15.5%. As more listings stack up, buyers are becoming choosier, and agents need to keep their vendors grounded.
Fall-Throughs: Holding Firm
6,149 fall-throughs were recorded, unchanged from last week. That’s a fall-through rate of 24.6%, slightly above the long-term average of 24.2%. Chain fragility remains an issue, but we’re far from chaos territory.
Net Sales: Climbing Again
Net sales hit 19,400, up from 18,900 last week. That’s bang on the 9-year average for Week 39, and just shy of the 2025 weekly average of 19,900. Year-to-date, we’re now at 777,000 net sales, 4.5% ahead of 2024 and 10% above the 2017–19 average.
% Of Homes Selling: Sharp Drop from Summer
Preliminary figures show just 50% of homes that left the market in September went on to complete, a drop from 55.8% in August. It’s a clear sign that sellers must stay competitive. Withdrawals are climbing as the market cools and the year-end creeps closer.
Stock and Pipeline: Slightly Down, Still Strong
At the start of October, there were 751,000 homes on the market, 4% higher than a year ago. Pipelines are holding at 510,000 SSTC, 2% above last year. Supply is high, and so is choice, meaning competition is stiff.
House Prices: Stable with a Slight Dip
The average price per square foot for agreed sales in October sits at £336.54, slightly down from £338.78 in August. Pricing remains resilient, but soft – reflecting buyer caution and seasonal adjustment.
In Summary
This week’s market is doing what October markets do: ticking over steadily, with a touch more urgency from sellers and careful decision-making from buyers. There’s still time to sell before Christmas, but not much. Realistic pricing, tight chains, and responsive agents will make all the difference.
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