UK Property Market: More Choice, More Competition, Less Margin for Error

Week 26 confirms that the UK property market remains active, yet increasingly selective.

New listings remain healthy. Some 36.5k homes came onto the market last week, almost exactly in line with seasonal norms and keeping 2026 listing levels identical to last year, 4.6% ahead of 2024 and 12.5% above pre-pandemic averages.

The bigger story remains competition.

In June, only 13.8% of homes on estate agents' books secured a buyer, down from 14.6% in May and below both the 2025 and 2026 monthly averages. Buyers have plenty of choice and are becoming increasingly selective about value and presentation. A total of 23.8k homes sold STC last week, below the long-term Week 26 average of 26k. However, year to date sales agreed are still running 0.4% ahead of 2024. Yet, perhaps the most sobering statistic is that only 50% of homes leaving agents' books in June actually exchanged and completed. The other half were withdrawn unsold, meaning one in every two sellers who came off the market stayed put.

Despite this increased competition, pricing remains remarkably resilient. The average home sold STC in June achieved £350.22 per square foot, up 1.9% year-on-year and 12.3% higher than five years ago.

The message for sellers is simple. The property market is still moving, but buyers are no longer chasing every property that comes to market. Homes that are correctly priced, properly presented and proactively marketed are selling. Those that are not risk becoming part of the 50% that quietly leave the market without a move.