UK Property Market Mooves - Week 17 - 4th May 2025

The property market continues to exhibit dynamic trends as we move further into 2025. Week 17 has brought significant changes, with notable increases in activity compared to the previous week and a year ago. See below the break down and the key movements in the market, including new listings, sales agreed, and average prices. We aim to give you a comprehensive view of what's happening in the UK Property Market so you can make your Moove informed!

Highlights from Week 17

1. Surge in New Listings

This week saw a notable increase in the number of new properties hitting the market:

New Listings:

• This Week (04/05/2025): 42,661
• Last Week (27/04/2025): 32,530
• Difference: +10,131 (+31.1%)
• Last Year (28/04/2024): 39,039
• Difference: +3,622 (+8.5%)

The influx of over 42,000 new listings this week reflects strong seller confidence, with a significant 31.1% increase from the prior week and an 8.5% rise compared to the same period last year.

Average New Listing Price:

• This week, the average price of newly listed properties rose to £476,290, up 4.7% from last week (£454,778) and 4.8% higher compared to the same week in 2024 (£453,542).

2. Sales Agreed (SSTC) Show Momentum

The number of sales agreed (Sold Subject to Contract, or SSTC) also demonstrated strong growth:

# of SSTC:

• Week 17 (04/05/2025): 28,338
• Last Week (27/04/2025): 22,810
• Difference: +5,528 (+24.2%)
• Last Year (28/04/2024): 27,712
• Difference: +626 (+2.2%)

Despite the large increase in new listings, demand from buyers remains robust, with over 28,000 properties moving to SSTC. This represents a healthy 24.2% jump from last week and a smaller but still positive 2.2% increase compared to last year.

Average SSTC Price:

• The average price of properties marked SSTC was £369,963, up 3.3% from last week (£358,236). However, this is a 14.1% decrease compared to last year (£421,992), which may indicate a shift in buyer preferences or a cooling in the upper end of the market.

3. The Gap Between Listings and SSTC

While both new listings and SSTCs have increased, the gap between the two widened this week:

# Listed vs. # SSTC:

• Difference: -14,323 (Week 17) vs. -9,720 (Last Week)
• Year-on-Year Difference: -11,327 (2024) vs. -2,996 (2025)

This growing disparity suggests an increasing supply of properties relative to demand, which could potentially lead to longer time on the market for some listings.

£ Listed vs. £ SSTC:

• The value gap between listed properties and SSTCs was -£106,327, representing a -22.3% difference, highlighting a significant pricing differential between the types of houses sellers are listings and the price ranges that buyers are operating in

What Does This Mean for the Market?

The property market in Week 17 is characterized by buoyant activity, with sellers bringing more properties to market and buyers continuing to engage actively. However, a few key trends stand out:

1. Increased Supply Outpacing Demand:
   The sharp rise in new listings is outpacing the growth in sales agreed (SSTC). While buyer demand remains strong, as evidenced by the 24.2% week-on-week increase in SSTCs, the widening gap between listed properties and those going under offer suggests that some homes may take longer to sell. This could indicate that the market is beginning to shift slightly in favour of buyers, giving them more options to choose from.
2. Price Sensitivity:
   The growing difference in the average value of listed properties (£476,290) versus those marked SSTC (£369,963) underscores a potential mismatch between seller expectations and buyer willingness to pay. Sellers may need to adjust their pricing strategies to align with current market conditions, especially as the average SSTC price is significantly lower than last year’s figures (-14.1%).
3. Steady Year-on-Year Growth in Listings and SSTCs:
   Compared to the same period in 2024, the property market has shown steady growth in both the number of new listings (+8.5%) and SSTCs (+2.2%). While the average price of SSTCs has dropped compared to last year, the increase in transaction volumes suggests that the market remains resilient, even amid potential economic uncertainties.

What to Watch in the Coming Weeks

As we move further into spring—a traditionally active season for the property market—there are several factors to keep an eye on:

• Will the Supply Surge Continue?
  With sellers appearing increasingly confident, it will be interesting to see if the number of new listings remains elevated in the coming weeks. This could create more opportunities for buyers but may also lead to increased competition among sellers.
• Buyer Behaviour and Affordability:
  The drop in SSTC prices compared to last year suggests that buyers are becoming more price conscious. If this trend continues, sellers may need to adjust their expectations and pricing strategies to attract offers.
• Interest Rates and Market Sentiment:
  External factors, such as interest rate changes or economic news, could influence both buyer and seller behaviour. Any shifts in borrowing costs may impact affordability and, in turn, demand.

Key Takeaways for Buyers and Sellers

• For Sellers:
  The market is active, and there is strong demand, but pricing strategically is critical. Overpricing could result in your property lingering on the market, especially as buyers become more discerning. Be prepared to negotiate and consider market trends when setting your asking price.
• For Buyers:
  With the number of new listings surging, now is a good time to explore options. However, act quickly if you find a property you like, as demand remains strong, and well-priced homes are still moving quickly.

Stay tuned for next week’s update as we continue to monitor the evolving trends in the property market. Whether you’re buying, selling, or just keeping an eye on the market, we’ve got you covered with the latest insights!