UK property market update: Week 46, 2025
The UK property market continues to rebalance, with new listings, sales activity and price shifts reflecting a cooler but steady landscape. Stock levels are rising, demand remains resilient, and affordability pressures continue to shape both buying and rental trends.
✅ New Listings
• 24.7k new properties came to market this week, down as expected from 26.1k last week.
• 2025 weekly average: 35k.
• 9-year week 46 average: 26.9k
• Year-to-date (YTD): 1.61m new listings, 0.8% higher than 2024 YTD (1.6m) and 8.4% above the 2017–19 average (1.49m)
✅ Price Reductions
13.4k reductions this week, lower than last week’s at 13.7k (Estate Agents seem to forget they can reduce houses prices after the first week in November!). 23.2k is the average weekly number of reductions for 2025.
• 12.8% of resi homes for sale were reduced in October. Compared to Sept 14.1%, August 11.1%, July 14.1% in July and 14% in June.
• 2025 average still remains at 13.2%, versus the five-year long-term average of 10.74%.
✅ Sales Agreed
• 20.9k homes sold subject to contract this week, down expectedly from 22.9k last week.
• Week 46 average (for last 9 years):21.4k
• 2025 weekly average: 26k.
• YTD: 1.182m gross sales, which is 3.4% ahead of 2024 (1.144m) and 12.2% above the 2017–19 average (1.052m).
• Some will note Gross Sales in Q4 were higher - this was the first time buyers buying home to beat the March 2025 stamp duty deadline
✅ Price Diff between Listings & Sales
• Average Asking Price of listings last week £394k vs Average asking price of Sales Agreed (SSTC)- £352k - a 11.8% difference (long term 9 year average is 16% to 17%)…
• The average listing price was £452k in Sept and £415k in October. Also the average value of homes selling has dropped to £352k (it’s been at £365k for months) ie fewer expensive homes being listed and cheaper homes selling. The £/sq.ft has uplifted slightly in the last 6 weeks, again showing more lower priced homes selling as they have a slightly higher £/sqft figure. Is that because of the Budget ???
✅ Sell-Through Rate
• 15% of homes on agents’ books went SSTC in October. Up from 14.1% in Sept, 14.5% in Aug, 15.4% in July, 15.3% in June, and 16.1% in May.
• Pre-Covid average: 15.5%.
✅ Fall-Throughs
• 5,162 fall-throughs last week (pipeline of 510k home Sold STC).
• Weekly average for 2025: 6,151.
• Fall-through rate: 24.7%, slightly down from 25.4% last week.
• Long-term average: 24.2% (post-Truss chaos saw levels exceed 40%).
✅ Net Sales
• 15.7k net sales this week, down expectedly from 17.1k last week.
• Nine-year Week 46 average: 15.9k.
• Weekly average for 2025: 19.6k.
• YTD: 890k, which is 3% ahead of 2024 (873k) and 9.1% above 2017–19 (824k).
✅ Probability of Selling (% that Exchange vs withdrawal)
• October Stats : 53.3% of homes that left agents’ books exchanged & completed in October. (Note this figure will change throughout the month as more October stats come in). (93.6k exchanges & 82k withdrawals)
• September: 53.1% / August :55.8% / July: 50.9% / June: 51.3% / May: 51.7% / April: 53.2%.
✅ Stock Levels
• 742k homes on the market at the start of November, 2.4% higher than November 2024. (725k)
• Notable increases include 9% more homes for sale in London than 12 months ago (9.96% in Inner London & 9.03% in Outer London) & 5.48% in the South East and 5.02% in the South West. The North has seen a drop in homes for sale.
• 511k homes in sales pipeline on the 1st November, 2.2% higher than 12 months ago.
✅ House Prices (£/sq.ft)
• October 2025 agreed sales averaged £343.18 per sq.ft. 0.8% higher than 12 months ago and 13.8% than 5 years ago. The £/sqft at sale agreed matches the HM Land Registry Index with a 98% accuracy, 5 months in advance. That is why it is so important.
✅ UK Rental Market Overview
• Average Rent in October - £1,916 pcm - compared to £1,802 in Oct 2024 and £1,557 in Oct 2017.
• Available Rental Properties in October '25 - 323k compared to 302k in October '24.
• Notable increase of 23.8% more rental homes in Outer London than 12 months ago, yet a 4.8% decrease in Inner London - Not sure why
If you would like to chat about our local property market, feel free to drop me a call on 01282 772048 or email me at info@pendlehillproperties.co.uk
