What is currently happening in the UK property market? – London Wallet

This week, I’m joined by Bryan Mansell, boss of Gazeal, as we unpack the key headlines from the 29th week of 2025, ending Saturday 27th July 2025.

✅ Listings (New to Market)

33k new listings this week (Down from 34.3k last week)

YTD listings are 4.2% higher than 2024 YTD and 7% above the 2017–19 YTD average

(1.07m YTD vs 1.03m in 2024).

✅ Price Reductions

23.5k reductions this week (down from 25.6k last week)

That’s still only 1 in 7.1 homes on the market being reduced monthly (14.1%)

For context:
• 14% in June & 13.4% in May
• 12.1% average in 2024
• Long-term 5-year average: 10.6%.

✅ Sales Agreed

26k homes sold STC this week (down from 26.3k last week)

YTD agreed sales:
• 7.6% up on 2024 (769k vs 715k)
• 14.8% up on pre-Covid average of 670k (2017–19).

✅ Sell-Through Rate (June, in arrears)

15.3% of properties on the market went SSTC in June

That’s down from 16.1% in May
2024 average: 15.3%
8-year average: 17.9%.

✅ Sale Fall-Throughs

6,345 fall-throughs last week (from a 496k SSTC pipeline)

Fall-through rate as % of gross sales: 24.4% (down from 24.7% last week)

Slightly worse than the long-term average of 24.2%, yet far below post-Truss chaos levels (40%+).

✅ Net Sales

19.7k net sales this week (Down from 19.8k last week)

Weekly average for 2025: 20k

YTD Net Sales:
• 588k in 2025
• +5.8% on 2024 YTD (555k)
• +10.6% on 2017–19 YTD (532k).

✅ % Chance the Home will Sell

June stats showed 51.3% of UK Homes that left the estate agents books in June 2025, exchanged contracts (ie the agent got paid and the home moved on completion), the remaining 48.7% left Estate Agent books, unsold and homeowner staying in their home.

NB – this June stat will change throughout July as more dates comes through.

✅ Stock Levels (For Sale and Sales Pipeline) – 1st of the Month

758k homes on the market at the start of July – 8.3% higher than July 2024

496k homes in Estate Agents sales pipelines  – 4.9% than than July 2024.

✅ House Prices (measured by £/sq.ft)

£346.45/sqft on Sales Agreed in June 2025  – 2.46% higher than June 2024 and 1.48% higher than June 2022.

✅ Rental Stats

June 2025 with an average rent of £1,826 pcm (June ’24 figure £1,758)

✅Local Focus:

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