Weekly UK Property Market Update - WC 28th Sept

The UK property market continues to show interesting dynamics this week, with small shifts in listings, sales, and prices highlighting ongoing trends that both buyers and sellers should be aware of. According to the latest market data, there were 35,265 new property listings this week, representing a 1.64% decrease from 35,852 last week. While the dip is modest, it reflects the slightly slower pace of new properties entering the market, which can have implications for supply and competition among buyers.

In terms of property sales, the average agreed sale price in the UK reached £370,262, marking an increase of 2.31% from £361,888 last week. This upward movement demonstrates the continued demand for homes despite fewer new listings and a slightly softer sales market. Meanwhile, the number of agreed sales fell slightly to 25,026, down 1.14% from 25,315 last week. The small reduction in completed agreements suggests that while demand remains strong, buyers are becoming a little more cautious, possibly due to rising interest rates and affordability considerations.

Interestingly, while agreed sale prices continue to rise, the average listed property price has softened slightly. This week, the figure sits at £436,991, down 3.92% from £454,813 last week. This dip indicates that sellers may be adjusting their expectations to match current buyer sentiment, creating potential opportunities for those looking to enter the UK property market. For buyers, this could mean slightly more negotiating power and a broader range of homes available at competitive prices.

Overall, the UK property market is exhibiting a mixed picture: agreed prices are rising, reflecting persistent demand, but new listings and listed prices are softening, giving potential buyers a chance to find value. This balance suggests a market that is stabilizing after periods of high volatility and sharp price increases.

For homeowners considering selling, the data reinforces the importance of setting realistic prices to attract serious buyers in a market where competition is softening. For buyers, keeping an eye on weekly property updates can help identify trends and make informed decisions when making offers.