Sellers across the UK are increasingly adjusting their expectations when it comes to asking prices, according to fresh market data. With affordability stretched for many buyers, the trend of price reductions is becoming more widespread.
Research from TwentyEA reveals that 809,000 price cuts have been recorded so far this year. This represents the highest level ever seen and is 17.8% higher than the same point last year, underlining the scale of adjustment taking place.
Despite this surge, the proportion of listings reduced in price has only edged up slightly, moving from 38.1% in 2024 to 38.7% this year. This shows that while the absolute number of cuts is rising, it is largely due to higher transaction volumes rather than a collapse in seller sentiment.
Breaking the data down by price bracket, there has been a decline in reductions in the £200,000 to £350,000 range, suggesting resilience in this popular segment. By contrast, reductions are becoming more common at the top end of the market, particularly for properties valued over £1 million.
Regional patterns tell a mixed story. The North has seen reductions slow compared with last year, whereas London and the South are experiencing an increase. Inner London, in particular, has led the way in cutting asking prices, reflecting a more competitive marketplace.
Alongside price reductions, transaction activity has also been picking up. According to TwentyEA, the UK has seen a 15% year-on-year rise in completed sales. In addition, 1.24 million new properties have been listed this year, the highest year-to-date total in seven years.
Sales agreed are also rising strongly. So far in 2025, 897,000 transactions have been confirmed, which is 5.9% higher than 2024 and ahead of the same point in 2023 and even pre-pandemic levels in 2019. This suggests that buyer demand is holding up, even as wider economic conditions remain uncertain.
Supply has also expanded, with new listings increasing by 3.7% compared with last year. Importantly, this growth has been recorded across every price band. The sharpest gains are in homes priced between £350,000 and £1 million, while the £200,000 to £350,000 category has also grown by 4.6%.
Looking regionally, more properties are coming to the market in nearly every part of the UK. Outer London has seen the strongest growth, up 7% year-on-year. The only exception to this pattern is Northern Ireland, where supply has eased.
Although more homes are entering the market and sales are being agreed at a faster pace, buyers and sellers are facing delays further down the process. The average time to secure a sale has risen to 77 days – six days longer than in 2024 and the slowest pace recorded in five years.
Once a sale is agreed, the time to exchange contracts has also lengthened. On average, this stage now takes 123 days, or just over four months. That is 2.3% longer than last year and 36% higher than in 2019. These longer timescales can add to the stress of moving for many households.
There are significant regional variations in these timings. In Scotland, the average time to exchange is just under three months, while in Outer London it has stretched to 4.6 months. These differences reflect the diverse market conditions across the UK.
Commenting on the data, Katy Billany, executive director at TwentyEA, said the figures point to stronger pipelines for estate agents this autumn. With new instructions at a seven-year high and sales agreed nearly 6% higher than last year, agents should be well-placed to manage increased activity.
She noted that the greatest uplift is being seen in the mid-to-upper price brackets, supported by broad regional growth. This not only provides buyers with more choice but also gives agents more opportunities to successfully convert instructions into completed sales.
At the same time, Ms Billany stressed the importance of guiding sellers on pricing. With record numbers of reductions taking place but only a modest increase in the share of affected listings, agents can set themselves apart by advising on realistic values early on. Doing so helps secure quicker transactions, improves seller satisfaction, and ultimately strengthens sales pipelines.
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