The UK housing market is demonstrating a clear shift towards buyer selectivity, with properties now taking longer to secure offers than a year ago. New analysis from Connells Group reveals that while demand remains resilient, a growing polarisation is evident, with affordable homes outperforming larger, more expensive properties.
According to the research, 52% of homes listed in January 2026 received an offer within six months, a decrease from 58% for properties launched during the same period last year. The proportion attracting an offer within the first month also saw a decline, falling from 42% to 38%. This trend suggests that prospective buyers are exercising greater caution and taking more time to make purchasing decisions, particularly as mortgage rates remain elevated compared to a few years ago.
The market is increasingly segmented by property size and value. Two-bedroom homes continue to be the strongest performers, with 55% securing an offer within six months, closely followed by three-bedroom properties at 53%. In stark contrast, only 41% of five-bedroom homes received an offer over the same period, a sharp drop from 59% a year earlier. This indicates a toughening environment for higher-value properties, where buyers typically need to borrow more, making them more sensitive to current mortgage costs.
Regional variations also play a significant role. Scotland remains the fastest-moving housing market, with 68% of homes attracting an offer within six months. The East of England and Wales were the only regions to record year-on-year improvements in offer rates, while the South East and South West experienced some of the largest declines. Locally, Bury topped the rankings, with an impressive 95% of homes receiving an offer within six months, highlighting strong localised demand in parts of the North and Midlands, which dominated the top-performing areas.
The analysis strongly underscores the critical importance of accurate pricing from the outset. Homes that underwent a price reduction were found to be 27% less likely to receive an offer than properties that maintained their original asking price. This suggests that many properties are entering the market overpriced, leading to delays and ultimately, a reduced chance of sale. Even when price reductions did lead to a sale, sellers waited an average of 49 days to receive an offer, only a slight improvement on the 53-day average recorded a year earlier. This highlights that while demand persists, buyers are increasingly discerning, making initial pricing a pivotal factor in successful transactions.