UK residential sales reached 422,000 properties sold subject to contract year-to-date as of early May 2026, representing a 14.6% increase compared to the same period in 2023 and 12.5% above pre-Covid norms, according to the latest market data.
The figures show net residential sales at 330,000 year-to-date, accounting for properties that fell through, which stands 16.3% ahead of 2023 levels and 9.4% above the 2017-19 average of 302,000.
Market activity and listings
New property listings totalled 637,000 year-to-date, 1% above 2025 levels and 7.4% higher than 2024. Weekly listings in week 17 reached 43,400 properties, up from 40,200 the previous week and above the 10-year week 17 average of 34,500.
Sales agreed in week 17 stood at 27,700 homes, compared to a 10-year average of 25,100 for the same period. Net sales for the week reached 21,700, exceeding the ten-year week 17 average of 19,800.
Overvaluing concerns
Data reveals that 46.7% of homes that left estate agents’ books in April were withdrawn unsold. The analysis attributes this primarily to overvaluing practices supported by extended sole agency agreements of 20 weeks or longer.
The difference between listing prices and sale agreed prices currently stands at 27.4%, significantly above the long-term 10-year average of 16-17%. Average listing prices reached £455,000 compared to £363,000 for sale agreed prices.
Similar concerns about market withdrawals have been documented in recent months, with estate agency performance coming under scrutiny.
Transaction completions and fall-throughs
Exchanges year-to-date reached 240,000 by the second week of April 2026, down 14% from 279,000 in the same period of 2025. The decline reflects the end of a stamp duty holiday that concluded in April 2025.
Fall-through rates stood at 21.4% for the week, below the previous week’s 25.8% and the long-term average of 24.5%. In April 2026, 53.3% of homes that left agents’ books exchanged and completed, compared to a seven-year average of 57.6%.
Pricing and rental market
Average prices per square foot for agreed sales in April 2026 reached £345.18, representing a 1.8% increase from £339.10 twelve months earlier and 11.3% higher than five years ago.
The rental market showed average rents of £1,778 per calendar month in April 2026, up from £1,700 in April 2025. Available rental stock stood at 302,000 properties in April 2026, marginally below the 303,000 available in April 2025.
Stock levels
Total homes on the market reached 731,000 on 1 May 2026, compared to 714,000 on the same date in 2025. Properties in agents’ sales pipelines stood at 461,000, slightly higher than the 447,000 recorded twelve months earlier.
The data indicates a market showing growth in transaction volumes compared to recent years, though concerns about pricing strategies and withdrawal rates remain significant factors affecting completion rates.