Our latest Sales Market Intelligence Report, based on July 2026 market activity, shows new listings growing faster than sales agreed for the first time since spring, pulling the national SSTC conversion rate down 0.8 percentage points to 54.6%. Continue reading to find out more and access the full report.
209,941 new listings across Great Britain (up 2.6% vs June)
114,561 sales agreed (up 1.1% vs June)
54.6% SSTC conversion rate (down 0.8 percentage points vs June), easing from November's 69.7% peak
39.2% of listings currently for sale carry a price reduction, averaging 8.6% off the asking price
Scotland leads conversion at 77.0%, London records the weakest conversion in Great Britain at 39.4%
Six of 11 regions above the GB SSTC conversion average, led by Scotland (77.0%), Yorkshire and the Humber (64.5%) and Wales (62.8%)
New listings rose 2.6% to 209,941 and sales agreed grew just 1.1% to 114,561, pulling the national SSTC conversion rate down 0.8 percentage points to 54.6%. The bigger story is in the shape of that shift: for the first time since spring, listing growth has overtaken sales agreed growth, a sign that supply is beginning to edge ahead of demand rather than a market suddenly cooling.
Conversion peaked at 69.7% in November and has eased steadily since, now sitting well below April's listing high of 216,756. Flats remain the most listed property type nationally at 49,297 new instructions, while two-bed bungalows convert best of any segment at 78.4%, comfortably ahead of every other type and bedroom combination. Nearly four in ten unconverted listings nationally, 95,380 in total, still carry a reduction.
For agents, the signal for August is clear. With listing growth outpacing sales agreed growth, price new instructions against July's more measured 54.6% conversion rate, not the exceptional highs seen earlier in the year, and prepare vendors for slightly longer marketing runs this autumn.
Scotland and London sit at opposite ends of the regional picture, and the gap between them is the widest it has been all year. Scotland converted 77.0% of new listings, the strongest rate in Great Britain, while London stands at just 39.4%, the weakest rate of any region and 37.6 percentage points behind Scotland.
Yorkshire and the Humber followed at 64.5%, with Wales close behind at 62.8%. The West Midlands converted at 61.1% and the North East at 61.0%, with the North West rounding out six regions above the 54.6% national average, a healthier spread than June. The South East and East Midlands trail the average, at 51.1% and 51.7% respectively.
Supply tells a similar story. The South East and London together hold a third of all stock for sale in Great Britain, and with reduction rates of 43.6% and 42.0% respectively, much of that stock looks to have been mispriced at launch. Scotland's reduction rate of 21.5% is the lowest in the country, and its unconverted pipeline of just 2,559 homes is the tightest of any region, reinforcing its position as the fastest moving market in Great Britain. The South East's backlog of 17,637 is the largest.
For agents working in London and the South East, that combination of a growing backlog and high reduction rates is a signal to have the pricing conversation earlier. Scotland and Yorkshire and the Humber show what well-priced stock can still achieve.
Planning applications surged 56.2% to 19,682 in July, with approvals up 43.2% to 5,821 and refusals up 59.9% to 1,028. Measured against decided applications, the approval rate eased slightly to 85.0%, down from 86.4% in June, as refusals grew faster than approvals.
Detached applications led volume at 7,136, while flats posted the fastest growth of any type at 80.5%, albeit from a small base of just 863 applications. Regionally, the South East leads volume with 3,372 applications, and the North East posted the sharpest growth of any region at 138.0%, albeit from a small base of 288. Approval rates vary widely: the West Midlands leads Great Britain at 88.9%, while Wales sits lowest at 57.6% and the North East at 76.2%.
The rise in applications is a positive early signal for the supply pipeline, though the effect is a lagged one. Planning consents granted this month typically become completions two to three years later. Agents and investors advising developer clients should factor local approval history heavily into any acquisition decision this quarter, using the decided-applications measure rather than the raw share of all submissions.
Commenting on the latest report, Matt Gilpin, our Founder and CEO, says:
"July is another reminder that there really is no such thing as 'the UK housing market'.
Scotland is converting 77% of new listings. London is converting just 39%. Across Great Britain, new supply grew faster than sales agreed, leaving more than 95,000 July listings still searching for a buyer.
The market hasn't fallen over. But it has become considerably less forgiving.
Agents who know their patch and can back it with data are going to win more valuation conversations this autumn. In a market where buyers have more choice, the first price increasingly matters more than the eventual price reduction."