Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
UK Property Sales Fall 7.3% Year-on-Year as Fall-Throughs Rise
The UK property market recorded 874,000 homes sold subject to contract in the year to date through week 36 of 2026, a 7.3% decline on the same period in 2025, according to market data analysed by property commentator Chris Watkin and industry analyst Bryan Mansell. Net sales, which account for gross sales minus fall-throughs, stood at 676,000 for the year to date, down 6.1% on 2025 and 1.2% lower than 2024.
Fall-throughs and exchange rates
In August 2026, only 55% of homes that left agents' books exchanged and completed, with the remaining 45% withdrawn unsold. That compares unfavourably with the seven-year average exchange-to-listings ratio of 57.6%. The fall-through rate for week 36 stood at 25.1%, marginally above the decade average of 24.5%.
The sell-through rate — the proportion of homes on agents' books that went under offer — reached 13.3% in August 2026, down from 14.2% in July and below the pre-pandemic average of 15.5%. Estate agency job vacancies across England have reached 1,300.
Pricing and stock levels
Price reductions affected 28,100 properties in week 36, with 11.1% of UK homes for sale reduced in August, down from 13.7% in July. The year-to-date average of 12.8% remains above the six-year long-term average of 10.9%. The gap between asking prices of new listings and properties going under offer widened to 29.2% in week 36, nearly double the ten-year average of 16-17%. New listings averaged £456,000 in asking price, against £353,000 for properties achieving sale agreed status.
Stock levels stood at 742,000 homes on the market as of 1 September 2026, up from 736,000 twelve months earlier but down from 767,000 the previous month. The sales pipeline contained 479,000 homes, lower than the 508,000 recorded on 1 September 2025.
Price and rental data
Properties achieving sale agreed status in August 2026 averaged £338.41 per square foot, a modest 0.3% increase on twelve months prior and 9.5% higher than five years ago. Average rents were £1,766 per calendar month in September 2026, down slightly from £1,791 in September 2025. Available rental stock decreased to 302,000 properties from 357,000 in August 2025, while new rental properties coming to market in August 2026 totalled 120,100, up from 115,584 in August 2025.
Market outlook
The data suggests a market operating below recent peak levels but ahead of 2023 performance, with sales 11% higher than 2023 year-to-date figures and 5.3% above pre-pandemic 2017-2019 averages. The analysis also noted that conveyancers are adopting property transaction reforms aimed at improving completion rates.
For letting agents and inventory clerks, rental stock has tightened to 302,000 available properties while new rental listings rise — supply dynamics worth monitoring in the months ahead.
Source: PropertyWire