UK Weekly Property Market Report - WC 5th Oct

The UK property market experienced a mild slowdown this week, with most indicators showing a small dip in activity and prices. However, buyer demand continues to hold strong - suggesting that while the market is recalibrating, it remains far from quiet.

Fewer New Listings Entering the Market

A total of 34,339 new listings were added to the market this week, representing a 2.63% decrease from last week’s 35,265. This small reduction could indicate a touch of caution among sellers, possibly reflecting the impact of seasonal trends or broader uncertainty in the economy.

With fewer properties being listed, competition may rise slightly among buyers seeking good-quality homes, especially in desirable regions. For landlords and investors, this could signal a good moment to list well-presented rental properties, as supply tightens in several local markets.

Average Listing Prices Ease Slightly

The average listing price fell by 1.56%, moving from £436,991 to £430,182. This dip suggests sellers may be adjusting expectations to align with current market sentiment and maintain buyer interest.

While the change is modest, it does reflect a broader pattern of price sensitivity, particularly in mid- to high-value segments where affordability pressures are most pronounced. Buyers appear to be increasingly selective, favouring realistically priced homes over inflated valuations.

Sales Activity Picks Up

Interestingly, despite fewer new listings and slightly lower prices, agreed sales rose by 2.15% - up from 25,026 to 25,564. This is a positive sign that underlying demand remains healthy, with motivated buyers continuing to act decisively when the right opportunities arise.

This uptick in agreed sales may also reflect improved confidence in the mortgage market, as lenders continue to offer more competitive rates and flexible products in response to stabilising inflation trends.

Average Sale Prices Edge Down

The average agreed sale price slipped by 1.16%, from £370,262 to £365,983. While this may look like a negative on the surface, it likely reflects greater activity at the more affordable end of the market - a common feature when buyers are prioritising value and stability.

Market Outlook

Overall, the latest data points to a balanced and active market, where buyers remain engaged but are negotiating harder and prioritising realistic pricing. Sellers who adjust expectations accordingly are still finding success, while landlords continue to benefit from strong rental demand and limited stock.

As we move deeper into the autumn market, all signs suggest steady demand will persist - even as prices and listing volumes adjust to a more sustainable level.