Pricing remains key with a third of properties reduced
The housing market recovered momentum in April after softening the previous month, with sales agreed up 10.0% month-on-month to 112,825 and new listings up 6.1% to 216,629, according to Sprift’s latest Sales Market Intelligence Report.
It marks the first time since November 2025 that sales agreed grew faster than supply.
The sold subject to contract (SSTC) conversion rate also recovered in the month, up 1.9 percentage points on March’s figure to hit 52.1% in April. That compares to an 8.3 percentage point decline the previous month.
Pricing is key to sales, with 735,876 properties available at the end of April and an average of 148 days on market. More than a third (35.8%) of listings were reduced, with an average discount of 8.8% off the original asking price.
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.
Sharp differences in performance
The data also shows performance varied sharply across Great Britain, according to Sprift. 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%.
However, with a conversion rate of 35.6%, London was the weakest region in Great Britain in April, around half of Scotland’s figure.
London, the South East, the East of England and the South West all sat below the GB average SSTC conversion rate with higher reduction rates, pointing to continued pricing pressure. The gap between the strongest and weakest regions is the widest recorded in 2026.
However, planning activity has fallen, with applications down to 19,773 in April, a 31.1% month-on-month decline and the steepest single-month drop of 2026.
Matt Gilpin, founder and CEO of Sprift, said: “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, 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.”
