UK Property Market Week 29: Buyers Still Hold the Cards
The UK property market remains active, but nobody should mistake activity for an easy market.
Another 33,640 homes came onto the market last week, almost exactly in line with the long-term Week 29 average. However, only 23,996 homes sold subject to contract, below the 10-year average of 24,800.
The bigger picture is more encouraging. Some 715,076 homes have sold STC so far in 2026, which is 10.7% higher than at the same point in 2023 and ahead of the decade average.
Yet sellers face brutal competition.
There are currently 760,117 UK homes for sale, compared with just 637,000 three years ago. That gives buyers far more choice and leaves overpriced homes increasingly exposed. Last month, 14.3% of properties had their asking price reduced, while only 13.8% of available homes secured a buyer.
And let’s not forget, just 50.2% of the homes leaving estate agents’ books last month exchanged and completed. The remaining 49.8% left the market unsold. That means you have a flip of the coin chance of moving home. The message is 100% clear. The market is moving, buyers are buying and correctly priced homes are selling.
But with supply this high, sellers who launch at yesterday’s price risk becoming tomorrow’s price reduction.