Published by: Christopher Watkins
UK Property Market. Week 2. Early doors, but revealing.
We are only two weeks into 2026, so perspective matters. It is far too early for bold predictions, but it is not too early to observe direction.
Year on year comparisons need careful handling.2025 was an exceptional year, driven by the spring Stamp Duty deadline, which artificially inflated sales activity in the early months. As a result,2026 is running slightly behind the same point in 2025, which is exactly what you would expect when that stimulus is removed.
However, that is only part of the story.
When you compareWeek 2 of 2026 to more normal years, the picture changes significantly. Sales agreed arewell ahead of Week 2 2024, stronger than 2023, and materially above pre Covid levels. In other words, buyer demand this early in the year is not weak, it is robust.
Last week alone,21,191 homes went Sold STC, comfortably above the ten year Week 2 average. That tells us buyers are active, decisive, and engaging with the market, even without incentives.
Supply remains healthy, with new listings elevated, giving buyers choice. Yet prices are still edging upwards, with house prices up0.6%, a sign of a balanced market rather than an overheated one.
One number sellers should not ignore is the60.1% completion rate. Just over six in ten homes that left agents’ books in December actually exchanged and completed. The remainder were withdrawn unsold. That gap is rarely about demand. It is usually about pricing realism, motivation, and how momentum is managed after an offer is agreed.
So yes, it is early doors.
Yes, 2026 is slightly behind the artificially boosted start to 2025, yet well ahead of 2024 and pre Covid levels.
But strip that out, and sales arefiring well ahead of normal years, powered by genuine buyer confidence rather than tax deadlines.
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