Week 26 delivered another familiar message. The UK property market remains active, but sellers are competing in a market where buyers have plenty of choice and little reason to overlook an overpriced home. A total of 23,841 homes sold STC last week, below the 10-year Week 26 average of 26k. At the same time, 36,480 new properties came to the market, above the decade average of 34.9k.
That imbalance between new supply and weekly sales continues to keep stock levels high. There are now 760,117 UK homes for sale, compared with 758,000 twelve months ago and just 637,000 three years ago. Buyers are therefore choosing from around 123,000 more properties than they were in 2023.
The pricing figures tell a similar story. During the last month, 14.3% of homes on the market reduced their asking price, while 13.8% secured a sale. In other words, slightly more sellers cut their price than found a buyer. Even so, the wider market remains resilient. So far in 2026, 643,928 homes have sold STC, which is 0.4% ahead of the same point in 2024 and above the 10-year Week 26 average of 631,000.
There have also been 967,196 homes listed for sale this year, considerably above the 10-year average of 857k. That extra supply is keeping buyers firmly in control of the viewing shortlist.
The average home sold STC last week at £369k, compared with a year-to-date average of £363k. The average agreed price per square foot was £352, slightly above the year-to-date average of £348. These weekly movements are likely to reflect the mix and location of homes sold rather than a sudden shift in underlying values.
Meanwhile, only 50% of the homes that recently left estate agents’ books went on to sell and complete. The remaining 50% left the market unsold.
The message for sellers is straightforward. The market is still moving, but buyers have more choice, price reductions are common and unrealistic asking prices are being exposed quickly. Launching too high does not protect value. It often helps the correctly priced home nearby look like the better buy.
If you are a Cirencester homeowner and want to know where you, your property and your potential home purchase stand in the local property market, do pick up the phone or send a message and let us have a chat.