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June 2026 Sales Market Intelligence Report: SSTC conversions hit 55.9% as sales agreed outpaced new listings for the first time since autumn

Written by Natasha Afxentiou | 11 June, 2026

Our latest Sales Market Intelligence Report, based on April 2026 market activity, provides an updated picture of the housing market. Continue reading to find out more and access the full report. 

Three months on from January’s SSTC conversion low and with mortgage rates holding below recent peaks, the housing market delivered positive signals in May. Sales agreed (SSTC) climbed 4.3% to 117,660, the highest level since June 2025, while new listings eased back 2.8% compared to April to 210,654. That combination pushed the national SSTC conversion rate to 55.9%, up 3.8 percentage points compared to April and the strongest reading since February. Improving buyer confidence has been supported by easing inflation and steady wage growth, though uncertainty remains as the Bank of England held the base rate at 3.75% in April amid rising energy prices and above-target inflation. Some demand was also pulled forward into Q1 ahead of April’s stamp duty threshold changes, a distortion that may temper Q2 volumes. 
 
Key findings from the report include:
 
  • 210,654 new listings across Great Britain (down 2.8% vs April)
  • 117,660 sales agreed (up 4.3% vs April), the highest since June 2025
  • 55.9% SSTC conversion rate (up 3.8 percentage points vs April), the highest since February
  • 30.3% of listings reduced, average reduction 8.5% on the original asking price
  • Scotland leads conversion at 73.1%, London records the weakest conversion in Great Britain at 38.0%
  • Seven of 11 regions above the GB SSTC conversion average, led by Wales (64.0%), Yorkshire & Humber (63.3%), North East (63.0%) and West Midlands (62.6%)

The regional picture in May is one of growing divergence. Scotland led every region on conversion at 73.1%, supported by tight supply and a reduction rate of just 20.4%. At the other end, London recorded the weakest conversion nationally at 38.0%, with 40.3% of stock reduced and an average of 176.9 days on market. Seven of 11 regions sat above the GB average SSTC conversion of 55.9%, a stronger picture than at any point since November 2025. Yorkshire and Humber (63.3%), the North East (63.0%), West Midlands (62.6%) and Wales (64.0%) all delivered well above-average results, a cluster of northern and devolved-nation markets often overlooked in favour of the southern narrative. Price reductions nationally edged up to 30.3% from 27.8%, with 277,218 of the 747,687 for-sale properties carrying a cut.

Commenting on the latest report, Matt Gilpin, our Founder and CEO, says: “May’s data confirms what agents on the ground are seeing. Buyers are active and willing to commit where properties are correctly priced. For the first time in several months, the market is absorbing stock faster than it's being replenished. Sales agreed increased by 4.3% in May while new listings eased back, pushing conversion to its highest level since February. That's an encouraging sign for agents and sellers alike. Buyers remain active, but they're also selective, making pricing accuracy and local market knowledge more important than ever when converting interest into committed transactions.”

Overall, May’s data points to a market that is becoming more efficient rather than significantly more active. Demand is improving, conversion rates are strengthening and properties that are priced realistically are continuing to move. However, the growing gap between high-performing and underperforming regions demonstrates that local market conditions remain critical. While transaction volumes are recovering, pricing accuracy continues to be the key factor separating successful sales from stock that lingers on the market.

The full June 2026 Sales Market Intelligence Report is available now, Sprift customers receive the full report as part of their subscription. Non-Sprift customers can subscribe to the report below. 
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