More Homes for Sale, Fewer Buyers: Is the Property Market Slowing?

More Homes for Sale, Fewer Buyers: Is the Property Market Slowing?

Fresh housing market data suggests sellers are facing increasing competition, as the number of homes for sale rises while fewer purchases are being agreed.

Figures from TwentyCi show sales agreed fell 6% year-on-year in August, marking the fourth consecutive month of decline. Overall, sales agreed during the first eight months of 2026 were 5.4% lower than the same period last year.

Meanwhile, new property listings increased 2.1% year-on-year, taking the number of homes coming to market to its highest level in a decade.

This means buyers have more properties to choose from at a time when fewer sales are being agreed — increasing competition between sellers and potentially putting greater pressure on asking prices.

Completed transactions have remained more resilient, but these largely reflect deals agreed earlier in the year. TwentyCi expects the slowdown to become more apparent during the final quarter, forecasting 1.16 million residential transactions in 2026, down 3.9% from last year.

Rising mortgage rates could add further pressure. Some lenders have already increased fixed rates as swap rates rise, potentially reducing affordability and making buyers more cautious.

For sellers, the picture is becoming increasingly clear: more homes are competing for fewer buyers. With property supply at a 10-year high and sales agreed continuing to fall, achieving the desired price and securing a buyer quickly could become increasingly challenging.