The middle of the market keeps moving
Two and three-bedroom homes continue to outperform, while discretionary buyers become more cautious
- More than half (52%) of homes listed across Great Britain in January secured an offer within six months, down from 58% a year earlier.
- Two and three-bedroom homes remain the market’s sweet spot, with 55% and 53% respectively securing an offer within six months.
- Premium five-bedroom homes have seen a sharper slowdown, with the share receiving an offer within six months falling from 59% in 2025 to 41% this year.
- Eight of Britain's 10 fastest-moving housing markets are in the Midlands and North, with Bury topping the table.
- Accurate pricing is becoming increasingly important, with price reductions slightly less likely than last year to generate an offer.
Aneisha Beveridge, Research Director at Connells Group, said:
“The housing market is still moving, but buyers have become more selective about where they spend their money. The strongest demand continues to be concentrated in the middle market, particularly among two and three-bedroom homes which appeal to first-time buyers, growing families and households whose moves are often driven by changing circumstances rather than choice alone.
“By contrast, higher-value homes face a tougher environment. Mortgage costs remain significantly higher than they were a few years ago, and that impact is felt most in more expensive parts of the country where buyers typically need to borrow more. Combined with wider political and economic uncertainty, this is causing some households to take a more cautious approach.”
New analysis from Connells Group shows that the mainstream housing market is still moving, even though homes take slightly longer to secure an offer than they did a year ago.
Across Great Britain, 52% of homes listed in January 2026 received an offer within six months of coming onto the market, compared with 58% at the same point last year. The share securing an offer within the first month also eased, from 42% in January 2025 to 38% this year.
But beneath the headline slowdown, the market is becoming increasingly polarised. Activity is holding up best where homes remain more affordable and moves are more often driven by life-stage changes, while larger and higher-value homes are taking longer to attract offers.
TWO AND THREE-BEDROOM HOMES REMAIN THE MARKET’S SWEET SPOT
Two and three-bedroom homes continue to outperform the rest of the market by some margin. Two-bedroom homes are the most likely to secure an offer within six months, with 55% doing so, closely followed by three-bedroom homes at 53%. This reinforces the strength of demand across the mid-market, where homes appeal to first-time buyers, young families and households whose moves are often shaped by changing circumstances rather than choice alone.
By contrast, both larger homes and flats are taking longer to attract offers.
The market for premium five-bedroom homes has cooled most sharply, with the share receiving an offer within six months falling from 59% in 2025 to 41% this year. At the top end, decisions are often discretionary and buyers are typically more exposed to higher mortgage costs, particularly in southern markets where larger loans are needed to move up or across the housing ladder.
The divide is also visible by tenure. Freehold homes continue to hold up better, with 53% securing an offer within six months in 2026, compared with 58% last year. Leasehold homes have seen a sharper slowdown, with the share receiving an offer falling from 57% to 48% over the same period. This predominantly reflects the pressure facing the flats market, where affordability constraints, service charges and greater buyer caution are weighing more heavily on demand.
REGIONAL MARKETS CONTINUE TO DIVERGE
The national picture also masks significant regional variation. Scotland remains Britain’s fastest-moving housing market, with 68% of homes launched in January securing an offer within six months. Meanwhile, the East of England and Wales have both bucked the wider trend, with the share of homes receiving an offer rising from 48% in 2025 to 56% in 2026 in the East of England and from 50% to 52% in Wales.
Elsewhere, some markets have seen demand soften more visibly, particularly where affordability pressures are most acute. Less than half of homes coming onto the market in the South East (47%) and South West (44%) received an offer within the first six months, percentage point falls of 10% and 11% respectively compared to last year.
Higher mortgage rates have had the greatest impact in more expensive parts of the country, where buyers typically need to stretch further and where uncertainty can more easily delay discretionary moves.
TOP 10 LOCAL AUTHORITIES FOR SALES RATES
While national activity has moderated, a number of local markets continue to perform strongly. The top-ranked local authorities show where affordability, buyer demand and available stock are still combining to support faster sales.
More homeowners in Bury received an offer within six months of coming onto the market than anywhere else in the country. Eight of the 10 local authorities where sellers are most likely to receive an offer are in the Midlands or the North, while no London Borough makes the top 10. In the capital, Waltham Forest leads the way in 16th place, where 71% of sellers received an offer within six months of coming onto the market.
REALISTIC PRICING MATTERS MORE THAN EVER
The data also suggests that pricing strategy is becoming increasingly important in a market where buyers have more choice. Price reductions can help generate interest, but they are not a guarantee of a sale.
So far this year, homes that have been reduced are still 27% less likely to receive an offer than homes that have not been reduced, suggesting that many cuts are coming from a starting point that was too high. Reductions are also proving slightly less effective than a year ago, with 38% leading to a subsequent offer this year, compared with 41% in 2025.
Even when a price cut does lead to an offer, it still takes time to translate into buyer commitment. In June, the first offer following a reduction came, on average, 49 days later , only slightly faster than the 53 days recorded last year.
Together, this points to a clear distinction between cutting the price and cutting it far enough. Reductions may reopen conversations with buyers, but homes that remain above expectations are still unlikely to secure an offer, particularly now that buyers have more stock to choose from.
This is especially true for more expensive homes, where moves are often discretionary. Some sellers are trimming asking prices, but not always enough to generate meaningful interest from buyers who are more cautious about stretching their budgets.