The UK property market continues to show resilience amid economic uncertainty, with sales volumes holding up despite worries about the most recent budget announcement. Through the first ten months of 2026, a total of 1.032 million homes have exchanged contracts, marking a 10.6% increase over the same period in 2023 and exceeding the pre-pandemic 2017–19 average by 4.1%. However, these figures still trail 2024 by 3.6% and 2025 by 7.5%, indicating that while the market has improved, it has not yet fully recovered to previous peaks.
New property listings have remained consistently strong, with 1.529 million homes listed so far in 2026—an 8.8% rise compared to 2023 and matching the historical 2017–19 average. In late October, weekly listings reached 27,500, slightly below the decade-long average of 28,900, though overall supply has grown. As of November 1, 758,000 properties were available for sale, up from 742,000 in November 2025 and 664,000 in 2023, reflecting a steady increase in inventory.
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Price adjustments remain a challenge, with 13.7% of homes experiencing reductions in October—a slight improvement from 14.7% in September but still above the seven-year average of 11%. The gap between asking prices and final sale prices widened to 15.5% in late October, just below the long-term average of 16–17%. Completion rates also weakened, with only 49.2% of homes leaving agents’ books in October, compared to a seven-year average of 57.6%, signaling slower transaction speeds.
Rental market trends present a mixed picture. The average monthly rent has fallen to £1,767 year-to-date, with October’s average at £1,804, down from £1,880 in October 2025. The total available rental stock has remained stable at 320,000 properties, nearly unchanged from 2025. New rentals entering the market totaled 149,700 in October, fewer than last year but significantly higher than the 116,000 recorded in 2022, suggesting a partial rebound in supply.
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Regional performance shows significant variation. House prices in September held steady at £338.98 per square foot, up only 0.2% year-on-year but 13.7% higher than five years earlier. This stability aligns with broader market trends, as the metric closely tracks official registry data. Fall-through rates, properties withdrawn before sale, stood at 23.99% in late October, just below the decade average of 24.5%. Monthly sell-through rates at 5.2% matched the long-term norm of 5.7%, though properties are taking longer to sell, with the October sell-through rate at 13.4% compared to a pre-pandemic average of 15.5%.
When accounting for withdrawn listings, net sales totaled 795,000 year-to-date, a 6.5% decline from 2025 but still 13.7% ahead of 2023. The data indicates a market that has proven resistant to short-term disruptions, though affordability challenges and regional differences continue to influence outcomes. Performance among agents varies widely, with differences in pricing accuracy and time to sale depending on location.