Stock is building, sales are up, and fall-throughs are edging down. There’s no sign of a crash – just a busy, competitive summer market where the right pricing still makes all the difference.
Listings: supply still climbing
33,700 homes were listed this week, up from 33,000 last week. Year-to-date, listings are 4.1% higher than 2024 and 6.9% above the 2017, 2018, 2019 average (1.10m vs 1.06m). The takeaway? There’s plenty of choice out there for buyers, but also more pressure on sellers to stand out.
Price reductions: continuing to ease
22,700 price reductions this week, slightly down from 23,500 last week. That keeps the monthly reduction rate at 14.1%, in line with July’s trend and still well above the 2024 average of 12.1% and the 5-year norm of 10.6%. While price sensitivity remains, fewer reductions suggest sellers are finally getting braver – or more accurate – when listing.
Sales agreed: healthy summer bounce
26,900 homes sold subject to contract (SSTC), up from 26,000 last week. Agreed sales this year are 7.5% ahead of 2024 and 14.8% above the 2017, 2019, 2019 benchmark (796k vs 741k and 695k). Sales volumes show no signs of a seasonal lull, the demand is still there, just more considered.
Sell-through rate: edging up again
July’s sell-through rate hit 15.4%, a small rise from June (15.3%) but still below the 8-year average of 17.9%. That rise reflects steady sales, but with rising stock levels, buyers are still spoilt for choice and dragging their feet where they can.
Fall-throughs: lowest rate in months
There were 6,337 fall-throughs this week from a 512,000-strong SSTC pipeline. That’s 23.6% of gross sales, slightly below last week’s 24.4% and marginally better than the long-term average of 24.2%. It’s a small improvement, but a welcome one.
Net sales: strongest week since spring
20,600 net sales were recorded, the best figure in weeks and well above the 2025 weekly average of 20,000. Year-to-date, net sales are up 5.8% on 2024 and 10.6% on the 2017, 208, 2019 average (608k vs 574k and 551k).
% of homes selling: slight monthly dip
July saw 51.2% of homes that left agents’ books result in completions, just down from 51.3% in June and 53.2% in April. That means nearly half of homes still fail to sell – a reminder that not every listing makes it across the line.
Stock and pipeline: more homes, more deals
763,000 homes were listed as of 1st August, up 6.7% on this time last year. Pipelines reached 512,000, a 4% year-on-year increase. With more homes available and more sales progressing, this is a well-supplied, functioning market.
House prices: slight dip, still up year-on-year
The average £ per sq ft on agreed sales in July was £344.78, down slightly from June’s £346.45, but still 1.97% up on July 2024 and 3.85% above July 2022. It’s a stable market, no fireworks, but no fall either.
Rental market: rents edge higher again
Average rents in July reached £1,876 pcm, up from £1,863 last year. With the year-to-date rental average at £1,767, we’re seeing steady pressure on tenants, and continued opportunity for landlords in most regions.
In summary
The market’s in motion. Sellers are still listing, buyers are still biting, and sales are getting over the line. Fall-throughs are easing, and net sales are growing. But with stock high and price cuts still widespread, sellers who get the price and presentation right will win, while others risk being left behind.
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