New property listings in Great Britain grew by 2.6% in July 2026, reaching 209,941, while sales agreed increased by a more modest 1.1% to 114,561. This marks the first time since spring that new listings have outpaced sales agreed, easing the national conversion rate by 0.8 percentage points to 54.6%.
The rise in listings occurred as mortgage costs continued to climb, with two-year fixed rates reaching 5.62% in July, an increase from 4.83% in February. Consumer confidence was recorded at -17 during the same period.
A significant regional divide has emerged, with Scotland leading Great Britain in conversion at 77.0%, followed by Yorkshire and the Humber at 64.5% and Wales at 62.8%. London, however, lagged with a conversion rate of just 39.4%, representing the widest gap between any two regions this year.
Price reductions affected 31.3% of stock nationally in July, a slight decrease from 31.8% in June. The South East recorded the highest reduction rate at 43.6% of listings, while Scotland had the lowest at 21.5%. Across Great Britain, 748,652 properties were for sale, spending an average of 155 days on the market.