April 2026 Sales Market Intelligence Report: Supply is rising, pricing is driving performance

A month on from the start of political unrest in the Middle East, the housing market has remained broadly stable, although regional differences across Great Britain are becoming more pronounced. There are also early signs that supply may be starting to outpace demand.

Key findings include:

• 204,131 new listings across Great Britain (+9.6% vs February)

• 102,532 sales agreed (-5.9% vs February)
• 50.2% conversion rate (-8.3 percentage points vs February)
• 35.4% of listings reduced
• London conversion at 33.8%, suggesting greater pricing sensitivity
• Three-bed semi-detached homes dominate volumes, while two-bed bungalows show the strongest conversion
• Planning applications down 10.5% compared to February but approval rates of decided applications remained high at 83%

Supply is returning, but demand is more selective

In March, 204,131 new listings entered the market for sale (up 9.6% compared to February), stabilising the seasonal dip seen at the end of 2025. However, a slight softening in sales agreed in March relative to new listings resulted in a dip in the average SSTC conversion rate for Great Britain which came in at 50.2%, down 8.3 percentage points compared to February. Buyers now have more choice, but decision-making remains cautious and is impacted by price sensitivity.

Regional performance is starting to diverge

The data also showed market performance varied significantly across Great Britain.

Five out of 11 regions including London, the South East, South West, East of England and East Midlands saw conversion rates below the GB average alongside higher levels of price reductions. In contrast, Scotland, Wales and northern regions led with conversion rates above the GB average and lower levels of price reductions.

This highlights a growing divide between markets where pricing is closely aligned to demand and those where adjustments are still needed.

Pricing pressure is building

Over a third (35.4%) of listings saw a price reduction in March, with most reductions falling between 6% and 10%. In addition, time on market increased slightly from 148.7 days in February to 155 days in March, reinforcing the shift towards a more considered, negotiation-led market.

Signs of caution in planning activity

Growing concerns around higher energy prices may have also resulted in a reduced appetite for home improvements as planning applications were down 10.5% compared to February.

However, approval rates remained strong at 83%, indicating that while fewer projects are being submitted, those that do move forward are still progressing through the system.

What this means for agents

The market remains active, but it’s becoming more selective.

The market has recovered from the seasonal slowdown at the end of 2025, but the latest data on conversions and sales agreed points to a shift in momentum. Demand hasn’t disappeared, but it is increasingly focused on specific property types, price points and locations.

Agents who price accurately and respond to local conditions will be best placed to win instructions and secure sales.

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