UK Property Market Stats Show - Week 7 2025 - Ep.2128

UK PROPERTY MARKET WEEKLY UPDATE Welcome to the 7th UK Property Market Stats Show of 2025, your go to weekly TV show on the UK Property Market on YouTube This week, I’m joined by the brilliant Iain McKenzie, Bossman of the 800 agent Guild of Property Professionals, as we delve into the key property market headlines for 7th week of 2025 ending on the 23rd February 2025. The YouTube Show https://youtu.be/cDfIV4bUDEU ✴️ UK Property Market Highlights this week . ✅ Listings (New Properties on the Market) 35.8k new listings this week (last week 36.1k) That’s 9% higher than Week 7 of 2024 YTD and 9.2% higher YTD compared to 2017/18/19. ✅ Price Reductions (% of Resi Stock) 20.6k Price Reductions this week - meaning an approx run rate of 1 in 8 of Resi Sales stock per month is being reduced (12%). For comparison, 11.9% average in 2024, though the long-term 5-year average is 10.6%. ✅ Total Gross Sales (Agreed Sales) 27.4k UK homes sold STC this week, slightly down from 27.6k last week in Week 6 That’s 20% higher YTD compared to 2024 and 28% higher than 2017/18/19 YTD levels. ✅ Sale-Through Rate (Monthly in Arrears) January’s Run rate of 15% of Resi stock sold stc. For comparison, 13.9% of residential sales stock sold in January 2025. 2024 monthly average: 15.3%. Long-term 8-year average: 17.9%. ✅ Sale Fall-Throughs 6,027 Sale fall-thrus last week from Resi Sale Sales Pipeline of 440,431 homes sale agreed (sold stc). Another method is that week’s sale fall thrus as a % of gross sales that week. This week, that is 22% (last week 22.2%). Still below the 7-year average of 24.2%, and well below the 40%+ levels post-Truss Budget (Autumn 2022). For January ’25 as a whole, 6.03% of sales in the UK agents pipelines fell thru in Jan 25. For comparison, 2024 average: 5.36%. ✅ Net Sales (Gross sales for the week less Sale Fall Thrus for the week) 21.3k net sales this week, compared 2025 weekly average of 20.6k. 2025 YTD is 17% higher than compared to 2024 YTD and 22% higher than YTD 2017/18/19. ✅ Residential Sales Stock on the Market 660k properties on the market at the end of January 2025 (up, as expected, from 605k in December). Historical comparison for end of January : * 2024: 612k * 2023: 525k * 2022: 373k * 2021: 538k * 2020: 591k * 2019: 614k * 2018: 540k * 2017: 525k ✅ Residential Sales Sold STC Pipeline 440k sales agreed but not yet completed at the end of January 2025. Historical comparison for January : * 2024: 354k * 2023: 347k * 2022: 447k * 2021: 459k * 2020: 308k * 2019: 290k * 2018: 282k * 2017: 270k ✅ UK House Prices (£/sq.ft) As always, the £/sq.ft metric predicts Land Registry figures 5 months in advance with 92% accuracy (the orange line of the graph). January’s final figure: £342/sq.ft. * December ’24 : £339/sq.ft * August ’24: £334/sq.ft * January ’24: £330/sq.ft This means UK house prices have risen 3.64% in the last 12 months. Local Focus this week - Wakefield