Close to 800,000 homes listed as stamp duty rush fades and conditions stabilise
The volume of properties listed for sale across the UK has reached its highest level in at least a decade, according to residential property data from TwentyCi.
The firm's Market Update for June 2026 shows that 794,000 properties were newly listed for sale in the first five months of the year, a 2.7% increase on the same period in 2025 and the highest figure recorded in the series.
The rise in supply coincides with a softening in buyer demand following the rush ahead of last year's stamp duty changes. The number of properties moving to sale agreed fell 4.1% year-on-year, though TwentyCi noted that demand remains above 2023 levels and marginally ahead of 2024.
Average new instruction prices fell 1.2% year-on-year to £441,400, while transaction prices held broadly stable — a pattern TwentyCi said points to market adjustment through activity levels rather than price falls.
The proportion of sales falling through declined to 23.4% from 24.4% a year earlier, with the overall volume of fall-throughs down 11.1%. However, the average time from sale agreed to exchange has lengthened to 132 days — up seven days on the prior year — extending the period during which mortgage pipelines remain committed.
Sales agreed volumes in May were down 8.1% year-on-year, a development TwentyCi said warrants close monitoring given the indicator's role as a leading signal of future transaction activity.
"The most striking feature of today's housing market is the level of choice available to buyers," said Colin Bradshaw (pictured right), chief executive of TwentyCi. "Supply is at its highest point in a decade, creating a far healthier environment for purchasers than we have seen for many years.
"While demand has softened compared with the stamp duty-fuelled market of early 2025, buyer activity remains resilient by historical standards and significantly stronger than we saw in 2023. The market is becoming more balanced rather than materially weaker.
"For lenders, there are encouraging signs beneath the headline transaction figures. Fall-through rates are improving, house prices remain remarkably stable, and buyers are entering the market with more choice and greater negotiating power. These are all characteristics of a more sustainable housing market.
"That said, the slowdown in sales agreed activity during May warrants close attention. Sales agreed are one of the clearest leading indicators of future mortgage demand, and if this trend continues, we would expect it to feed through into lower transaction volumes later in the year."
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