UK property listings have reached their highest level in a decade, according to data from Chris Watkin and Twenty EA tracking market activity since 2017. However, sales volumes remain below recent years, with January 2026 transactions trailing those recorded in 2021, 2022, and 2025.
The data shows a notable increase in properties coming to market, though year-on-year comparisons remain distorted by the Stamp Duty Land Tax (SDLT) holiday that ended in April 2025, which artificially boosted transactions in the first quarter of last year.
Transaction volumes in historical context
January 2026 sales figures align with historical norms, exceeding levels recorded between 2008 and 2014 during the credit crunch period, and matching January 2025 transaction volumes. HMRC data reveals that major market fluctuations over the past two decades have primarily resulted from external factors rather than fundamental market dynamics.
Key events that created transaction peaks and troughs include the March 2025 SDLT threshold reduction, which drove a surge in completions ahead of the 1 April 2025 deadline, followed by a subsequent drop. The 2021 SDLT holiday generated large peaks in March, June, and September as buyers rushed to complete before the nil rate band reductions ended.
The COVID-19 pandemic caused a substantial decrease in quarter two 2020 transactions, whilst March 2016 saw increased activity before higher rates for additional residential properties took effect in April 2016. December 2009 recorded an unseasonal peak as a temporarily increased nil rate band ended, and the 2007 financial crisis marked the beginning of a prolonged decline following steady growth that peaked in mid-2006.
Market data from major portals
Zoopla reported that 2026 has started with increased housing market activity, driven by the lowest mortgage rates in four years and improved access to mortgages, particularly for first-time buyers. Agreed sales have increased sharply but remain 3% below the strong start to 2025, representing the fourth strongest February level in the past decade despite 8% fewer buyers in the market compared to a year ago.
The portal noted February 2026 is on track to record the highest monthly number of new listings in a decade, with 6% more homes for sale than a year ago. Zoopla stated this increased supply is expected to rise further in coming months, boosting choice for buyers whilst keeping house price growth in check over 2026.
Rightmove data confirms the number of homes for sale has reached an 11-year high for this time of year. The average time to secure a buyer has extended to 81 days in January 2026, compared with 59 days in April and May 2025, indicating buyers are taking longer to make purchasing decisions as new properties continue to enter the market weekly.
Market implications
The combination of increased supply and extended selling times suggests a shift towards a more balanced market after years of constrained inventory. Some properties are struggling to sell, contributing to the lengthening average time on market. The data indicates that whilst seller confidence has improved, buyer urgency has diminished, creating conditions that may favour purchasers in negotiations over the coming months.