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.
Two months on from the start of unrest in the Middle East, and with elevated energy costs continuing to influence household decisions, the housing market recovered momentum in April. Sales agreed grew 10.0% month-on-month to 112,825, while new listings rose a more modest 6.1% to 216,629. It's the first month since November 2025 where sales agreed grew faster than supply, as buyers who held back through the more selective March period returned to commit.
Key findings from the report include:
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216,629 new listings across Great Britain (+6.1% vs March)
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112,825 sales agreed (+10.0% vs March)
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52.1% conversion rate (+1.9 percentage points vs March)
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35.8% of listings reduced, average reduction 8.8% on the original asking price
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Scotland leads conversion at 70.6%; London records the weakest conversion in Great Britain at 35.6%
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Three-bed semi-detached homes dominate volume; two-bed bungalows show the strongest conversion at 70.8%
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Planning applications down 31.1% vs March; approval rates of decided applications held at 82.6%
The GB SSTC conversion rate recovered to 52.1%, up 1.9 percentage points compared to March, reversing last month’s 8.3 percentage point decline. With 735,876 properties on the market at the end of April, an average 148 days on market, and 35.8% of listings reduced at an average 8.8% on the original asking price, the data points to a market where pricing accuracy is doing the work. Three-bed semi-detached homes continued to dominate volume with 27,792 listings, while two-bed bungalows led on conversion at 70.8% sold subject to contract.
The data also shows performance varied sharply across Great Britain. Seven of eleven regions saw conversion rates above the 52.1% GB average, led by Scotland at 70.6%, Wales at 63.5% and the West Midlands at 59.1%. At the other end, London’s conversion rate of 35.6% was the weakest in Great Britain in April and 35 percentage points below Scotland’s. Four regions including London, the South East, the East of England and the South West all sat below the GB average SSTC conversion rate with higher price reduction rates, pointing to continued pricing pressure. The gap between the strongest and weakest regions is the widest recorded in 2026 and reflects how closely asking prices align with what buyers will pay rather than differences in underlying demand.
One area of caution is planning activity. Applications fell to 19,773 in April, a 31.1% month-on-month decline and the steepest single-month drop of 2026. The fall is consistent across all regions and property types, with detached down 29.6% and semi-detached down 32.0%. Approval rates held steady at 82.6%, confirming the slowdown is in new submissions rather than in decisions. The data points to elevated energy costs and broader economic caution constraining discretionary investment even as transaction volumes recover.
Commenting on the latest report, our Founder and CEO, Matt Gilpin, says: “April's market held firm against wider economic uncertainty. Sales agreed outpaced new listings, lifting conversion to 52.1% and reversing March's softening. Regional variation remains significant, with Scotland converting at 70.6% compared with London at 35.6%, reinforcing that pricing alignment remains the defining factor behind market performance.
Our data indicates that agents staying close to local market conditions, using real property-level insight and pricing with precision, are converting faster and building momentum. Others continue to see stock sit and reductions rise. April proves the market rewards precision.”
Overall, April’s data shows a market recovering after March’s softening rather than breaking new ground. The recovery is being driven by pricing accuracy and local alignment rather than a surge in demand. Where agents have priced accurately and responded to local buyer behaviour, conversion is strong. Where pricing isn’t aligned with market conditions, stock is building and reductions are following. With planning activity at its lowest point of the year so far, confidence in discretionary property investment remains on pause even as transaction volumes improve.
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The full May 2026 Sales Market Intelligence Report is available now. Sprift customers receive the full report as part of their subscription.
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