Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.

UK House Sales Slow Amid Mortgage Concerns and Political Uncertainty

UK house sales agreed in June 2026 dropped by 9.4% compared to the same period last year, with nearly 99,000 homes sold subject to contract during the first four full weeks of the month. Higher mortgage costs and ongoing political uncertainty have been cited as factors weighing on buyer activity.

Despite the slowdown, the June 2026 total remains above the 92,000 sales agreed during the equivalent period in 2023, though it is below the 103,000 recorded in 2024. This suggests the market has softened rather than stalled.

Market Activity and Listings

In week 25 of 2026, there were 35,400 new property listings, slightly down from 36,000 the previous week. The weekly average for new listings in 2026 stands at 37,300, which is in line with the 10-year average for this period. Year to date, there have been 931,000 new listings, identical to 2025 and 4.7% ahead of 2024.

Sales and Exchanges

Gross residential sales for week 25 reached 24,100, with a 2026 weekly average of 24,800. Year to date, 620,000 UK homes have been sold subject to contract, 6.6% lower than the same period in 2025 but 0.8% higher than 2024 and 11% higher than 2023. Net residential sales year to date are 484,000, 5% lower than 2025 but 0.7% ahead of 2024 and 12.4% ahead of 2023.

There were 76,800 property exchanges in May 2026, bringing the year-to-date total to 365,000, which is 5.5% lower than the same period in 2025. The higher number of exchanges in early 2025 was attributed to a stamp duty holiday that ended in April 2025.

Price Reductions, Withdrawals, and Sell-Through Rates

In the latest week, 25,800 price reductions were recorded among 747,000 homes for sale. In May, 13.4% of homes for sale were reduced, compared to a 2025 average of 12.8% and a six-year average of 10.7%. Withdrawals in May 2026 reached 64,000, with 45.2% of homes leaving estate agent books unsold.

The sell-through rate in May 2026 was 14.6%, slightly below the pre-Covid average of 15.5%. The fall-through rate for sales was 23%, below the decade average of 24.5%.

House Prices and Stock Levels

The average agreed sale price in May 2026 was £349.64 per square foot, 1.9% higher than a year earlier. On 1 June 2026, there were 747,000 homes on the market and 472,000 homes in agents’ sales pipelines, slightly lower than the previous year.