As expected, the August bank holiday brought a drop in listings, sales, and reductions, but there’s no need to panic. Year-on-year performance remains solid, fall-throughs are at their lowest for months, and buyers are still committing. It’s a pause, not a problem.
Listings: Post-Bank Holiday Dip
29,100 homes came to market this week, down from 33,400 last week. That’s well below the 2025 weekly average of 36,200, but not surprising given the bank holiday break. Year-to-date, we’re still 2.7% ahead of 2024 and 7.2% up on the 2017–19 norm (1.23m vs 1.2m).
Price Reductions: Softer As Expected
17,500 reductions were recorded this week, down from 20,300 last week. The monthly reduction rate for August remains at 14.1%, consistent with July and still well above 2024’s 12.1% average. Fewer listings mean fewer cuts, but pricing needs to stay on point heading into autumn.
Sales Agreed: Expected Seasonal Drop
21,300 homes were sold subject to contract (SSTC), down from 25,300 last week. It’s the lowest weekly figure since spring, but context matters, this is normal for the bank holiday window. Year-to-date sales agreed remain strong: 893,000, which is 6.1% up on 2024 and 13% above the pre-Covid average (842k vs 788k).
Sell-Through Rate: Still Steady At 15.4%
July’s sell-through rate remains unchanged at 15.4%, matching the 2024 monthly average but still trailing the 8-year norm of 17.9%. We’ll see August’s rate next week, which will give a clearer picture of buyer follow-through.
Fall-Throughs: Lowest in Months
Just 5,149 fall-throughs were recorded, the lowest all year. That’s 24.1% of gross sales, down from 24.3% last week and below the long-term average of 24.2%. It’s a positive sign, showing stronger chain management and more confident buyers.
Net Sales: Biggest Holiday Slowdown
Net sales came in at 16,200, a significant drop from 19,100 the week before. Still, the year-to-date total of 682,000 is 5% ahead of 2024 and nearly 10% up on 2017, 2018, 2019 (649k vs 621k). Expect this to rebound quickly in early September.
% Of Homes Selling: Still Under Half
July data still holds at 50.9% of homes completing once removed from market. That means 1 in 2 listings still ends unsold, and with August stats due mid-September, we’ll see if the trend continues. For now, it reinforces the need for competitive pricing and strong presentation.
Stock and Pipeline: Healthy and Holding
As of 1st August, there were 763,000 homes for sale, 6.7% more than the same point in 2024. Pipelines remain robust at 512,000, up 4% year on year. There’s no shortage of supply or sales in progress, the lull is seasonal, not structural.
House Prices: Steady Again
The average sales-agreed price remains at £344.78 per sq ft, up 1.97% on last year and 3.85% on July 2022. No spikes, no slumps, just steady value growth.
Rental Market: Pressure Still High
Rents averaged £1,876 pcm in July, up from £1,863 last year. The year-to-date average sits at £1,767. Demand remains strong heading into September, and it’s likely to get even tighter as the student market peaks.
In Summary
The market took a breath for the bank holiday. Listings, sales, and reductions dipped, but it’s not a downturn. Year-on-year figures are still up, fall-throughs are at record lows, and buyers are engaged. September is go-time.
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