The data provided Sprift, as part of its analysis from its latest sales market intelligence report, based on March 2026 activity, shows 204,131 new listings across Great Britain in the latest period, up 9.6% compared with February, alongside 102,532 sales agreed, down 5.9% over the same timeframe.
As a result, the overall conversion rate has fallen to 50.2%, an 8.3 percentage point decline month-on-month.
Pricing adjustments appear to be playing a growing role, with 35.4% of listings reduced during the period, suggesting sellers are having to respond more actively to buyer resistance.
Regional variation is also evident, with London recording a notably lower conversion rate of 33.8%, indicating higher price sensitivity in the capital compared with the national average.
In terms of housing stock, three-bedroom semi-detached homes accounted for the largest share of activity, while two-bedroom bungalows recorded the strongest conversion performance, pointing to continued demand for more accessible and downsizer-friendly property types.
On the development side, planning applications fell by 10.5% compared with February. However, of those decided, approval rates remained high at 83%, suggesting that while fewer applications are being submitted, planning consent continues to be granted at a strong rate.
Matt Gilpin, founder and CEO of Sprift, said: “The market hasn’t weakened. It’s become more selective. Supply is rising, buyers have more choice and conversion is falling, making this a pricing-driven market. Get the price right and homes sell. Get it wrong and they sit on the market.
“Our data shows that agents using real, property-level insight to align with local conditions are winning more instructions and converting them faster, while others are seeing stock build and reductions increase. In today’s market, pricing precision isn’t an advantage, it’s the difference between winning and losing.”
