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A decade-high supply wave reshapes the market

The UK housing market has turned a page. After a prolonged period of tight stock—exacerbated by pandemic-era caution and interest rate uncertainty—sellers have returned in force. Industry reports from Halifax, Nationwide and major portals confirm that new listings in early 2025 reached their highest levels since 2015, with REalyse data showing monthly regional listing counts ranging from under 5,000 in the North East to over 24,000 in the South East.

This supply injection arrives at a pivotal moment. The Bank of England's base rate adjustments through 2024–25 have steadied buyer confidence, while affordability pressures have encouraged longer-term owners to test the market. For the first time in several years, buyers in many regions can browse multiple comparable properties rather than scrambling for scarce stock.

Regional contrasts in time-to-sell

Not all markets move at the same pace. REalyse data reveals that average days on market varied significantly across the UK through 2024–25:

• Scotland consistently outperformed, with flats averaging around 70–82 days on market and terraced homes moving in under three months. The Scottish system's binding offers and competitive bidding culture continue to accelerate transactions.

• Northern England followed closely, with semi-detached and terraced properties typically selling within 75–95 days. The North West and Yorkshire showed particularly strong momentum as affordability attracted first-time buyers and investors alike.

• London and the South East faced longer selling times, with flats in the capital averaging 99–115 days through 2024 before improving into 2025. Higher price points and more cautious buyers in premium brackets extended negotiations.

• The Midlands sat in the middle ground, with detached homes taking 100–120 days while more affordable semi-detached stock moved faster.

By early 2025, most regions had shaved 15–20 days off their typical selling times compared to 2024, suggesting improved liquidity as supply and demand found better equilibrium.

Pricing power shifts toward buyers

The supply surge has tangible consequences for negotiating dynamics. REalyse transaction data shows that the average asking-to-achieved price discount across the UK hovered around 0.4–0.9% through 2024–25—modest by historical standards but directionally significant.

Regional and property-type variations tell a more nuanced story:

• Detached homes in England showed discounts of 1–1.3%, reflecting longer marketing periods and buyer leverage on premium stock.

• Flats in several regions achieved prices at or marginally above asking—particularly in the North West and parts of Wales where rental yields remain attractive to investors willing to pay for immediate income.

• Terraced and semi-detached properties often transacted close to asking price, benefiting from first-time buyer demand and the "family home" sweet spot.

For sellers, the message is clear: realistic pricing from day one accelerates sales. Overpriced listings risk extended marketing periods, subsequent reductions and ultimately weaker final outcomes. Agents report that properties priced within 5% of comparable evidence sell materially faster than those testing the top of the range.

What Halifax and Nationwide indices show

The major lenders' house price indices have reflected this rebalancing. Halifax reported annual price growth moderating to low single digits through late 2024 and into 2025, while Nationwide's data showed outright month-on-month declines in several months before stabilising. Both attribute the softening to increased supply giving buyers more choice and negotiating room.

Crucially, neither index suggests a price collapse. Instead, the data points to a market transitioning from acute seller scarcity to a more balanced environment where transactions can occur at sustainable, evidence-based valuations.

What this means for 2025–26

Several themes will likely define the market through 2026:

Pricing discipline becomes essential. With more stock available, buyers will increasingly compare and contrast. Vendors and their agents who rely on REalyse-style comparable analysis—examining recent £/sqft achieved prices and days on market by property type—will set competitive asking prices and avoid costly stale listings.

Regional divergence persists. Scotland's structural speed advantage will continue, while London's higher price points and complex buyer journeys will keep marketing periods longer. Investors seeking quicker turnover may find northern and Midlands markets more attractive.

Yield-focused buyers shape demand. As the supply surge includes more investor-owned stock returning to market, buy-to-let purchasers are benchmarking asking prices against achievable rental yields. REalyse data on local gross yields and rent-to-price ratios will inform these calculations, particularly in cities like Manchester, Birmingham and Edinburgh where rental demand remains robust.

New-build competition intensifies. With planning pipelines delivering units across the country, second-hand sellers face competition from developers offering incentives. Monitoring local development activity and anticipated completions will help sellers time their exits strategically.

Conclusion: a healthier market emerges

The surge in listings that has defined 2025 represents not a crisis but a correction—a return to more normal market function after years of imbalance. Buyers now have choice; sellers must compete on price and presentation. Days on market are improving, but only for realistically priced stock.

For investors, agents and homeowners navigating this environment, granular local data is essential. Understanding how your property type, postcode and price point compare to recent evidence separates successful transactions from prolonged marketing. As the market continues to rebalance through 2026, those armed with accurate, timely market intelligence will be best positioned to act decisively—whether buying, selling or advising.