The UK housing market is experiencing a notable uptick in price reductions, with more than 100,000 properties having their asking prices cut in April alone, according to new data from property analytics firm TwentyEA.
This brings the total number of price reductions in 2025 to nearly 388,000, the highest level recorded by the company since it began tracking such data.
Price reductions are now tracking 20.6% higher year-on-year, reflecting the impact of a surge in housing supply rather than a collapse in buyer demand. Analysts say the sheer volume of stock entering the market is prompting more sellers to adjust their expectations — particularly as the post-pandemic price boom continues to cool.
In April 2025, the number of price reductions reached 104,794, the highest for any April since 2019 — and more than double the 51,376 seen in April 2021, when the pandemic-driven stamp duty holiday was fuelling a frenzy of sales activity.
While the volume of price reductions has increased, TwentyEA points out that the proportion of listings with at least one price cut has remained broadly stable — at 38.0% so far this year, compared to 38.4% in 2024. The trend suggests that the overall increase is being driven primarily by higher numbers of properties for sale, rather than a sudden drop in buyer demand.
However, some regional and sector-specific trends are emerging. The South East currently leads the country with 42.1% of all listed properties experiencing at least one price cut, while Inner London and the South West are the only areas where the rate of reductions has increased compared to last year — by 1.4 and 0.6 percentage points respectively.
Interestingly, the data also shows that price reductions have declined across all price bands except for homes priced over £1 million, where the rate has increased by 2.0 percentage points.
April’s spike in price reductions comes just weeks after the end of the reduced stamp duty rate on March 31, a change that may have prompted a flurry of activity from motivated sellers eager to secure a deal before the shift.
“While price reductions have been an ongoing trend, it’s particularly notable how many were recorded in April, coinciding with the end of the reduced stamp duty rate,” a TwentyCi spokesperson said.
“We’ll be closely monitoring whether this regulatory change leads to further reductions and a broader cooling of the market.”
The firm also highlighted that in April, the ratio of price reductions to new listings hit 65%, the highest level recorded in any April since 2019. While this does not mean that two-thirds of April’s new listings were discounted, it is a strong indicator of how prevalent price cutting has become relative to overall market activity.
Despite the increase in reductions, the market is not showing signs of collapsing demand. In fact, sales agreed so far this year are up 7.1% compared to the same period in 2024, with more than 437,000 transactions agreed, making it the busiest year since 2022.
Demand is growing across all price bands, with the strongest momentum seen in the £350,000–£1 million range, where activity is up 10.8% year-on-year. The £200,000–£350,000 band also recorded a healthy 9.2% rise.
Regionally, the North West and Wales are leading the recovery, with year-on-year sales growth of 12.0% and 10.0% respectively.
As the market adjusts to higher supply and shifting regulatory pressures, sellers are increasingly having to price competitively to secure buyers. Whether this points to a sustained rebalancing of the housing market or the early signs of a broader correction remains to be seen. For now, demand is holding firm — but pricing power appears to be tilting back toward the buyer.
