UK property sales have declined 7.6% year-to-date compared to 2025, with 342,000 homes sold subject to contract by mid-April 2026, according to market data analysed for week 14 of the year.
The figures, presented by property analysts Iain White and colleagues, show that whilst transactions remain below last year’s levels, they continue to outperform 2024 by 5.6% and sit 12.9% above pre-Covid norms of 303,000 properties.
Listings and stock levels
New property listings reached 512,000 year-to-date, representing a 1.1% decrease from 2025 but 16.6% higher than the 2017-19 average. Weekly listings for week 14 totalled 32,200 properties, down from 38,400 the previous week, reflecting typical Easter period slowdowns.
Total stock levels stood at 717,000 homes on 1 April 2026, marginally higher than the 706,000 recorded on the same date in 2025. The sales pipeline contained 453,000 properties, slightly below the 461,000 figure from April 2025.
Price reductions and overvaluation concerns
Price reductions affected 20,500 properties in week 14, with 13.2% of residential homes for sale reduced in March. This compares to 13.4% in March 2025 and 12.2% in March 2024, above the six-year average of 10.7%.
A significant 47.4% of homes that left estate agents’ books in March were withdrawn unsold. The analysis attributes this primarily to overvaluation, supported by extended sole agency agreements exceeding 20 weeks. This pattern follows broader market stabilisation concerns observed across the sector.
Transaction completion rates
Net residential sales, which account for properties sold subject to contract minus fall-throughs, totalled 268,000 year-to-date, down 5.2% from 282,000 in 2025 but 9.8% above the 2017-19 average of 244,000.
Fall-through rates stood at 22.5% in week 14, below the long-term average of 24.2% but elevated compared to pre-crisis levels. The data shows 5.1% of all sales agreed in estate agents’ pipelines fell through in March 2026, compared to a 2025 average of 5.3%.
Exchange completions reached 190,000 by the third week of March 2026, down 9.5% from 210,000 in the same period of 2025. The decline is attributed to the conclusion of a stamp duty holiday in April 2025, which had accelerated transactions in the first quarter of last year.
Pricing and rental market
Properties sold in March 2026 averaged £345.64 per square foot, representing a 2% increase from £338.97 twelve months earlier and 12.7% higher than five years ago. The difference between average listing prices (£446,000) and sale agreed prices (£356,000) stood at 25.4%, significantly above the long-term average of 16-17%.
In the rental sector, average rents in March 2026 were £1,740 per calendar month, marginally below the £1,747 recorded in March 2025. Available rental stock totalled 312,000 properties, virtually unchanged from 313,000 the previous year. These figures come as letting agents prepare for legislative changes affecting the sector.
Market outlook
The sell-through rate—the percentage of homes on agents’ books that went under offer—stood at 15.4% in February 2026, below the 16.1% recorded in February 2025 and the 16.7% figure from February 2024, though close to the pre-Covid average of 15.5%.
The probability of exchange completion versus withdrawal reached 52.6% for properties leaving agents’ books in March, below the seven-year average of 57.6%. The data suggests a market characterised by subdued transaction volumes and persistent challenges around property valuation and completion rates.
