Widespread “wait-and-see” approach to home-moving in Q4 2025 leaves market on pause.
Our Q4 2025 Property Trends Report indicates that speculation around the Autumn Budget slowed residential market activity in the final quarter of the year. In England and Wales, listings and completions dropped 7% and 6% year‑on‑year, while SSTC and search orders saw steeper falls of 17% and 19%. Mortgage valuations also slowed, though remortgaging remained steady.
Scotland performed comparatively well despite similar uncertainty. Listings dipped in October and November, recovering in December as demand resurfaced. Search activity remained muted, but SSTM volumes stabilised by year‑end. The nationwide picture suggests delays rather than loss of demand. Expectations of further rate cuts and continued price adjustments could help unlock more activity in 2026.
Other headline findings from Q4 2025 include:
- Listings volumes were down 7% compared to Q4 ‘24 volumes.
- In Scotland, listings were up 5% in Q4 ‘25 vs Q4 ‘24.
- SSTC volumes were down 17% year-on-year in Q4 ‘25.
- SSTM levels in Scotland were down 9% in Q4 ‘25 vs Q4 ‘24.
- Completion volumes in Q4 ’25 were down 6% compared to Q4 ‘24.
- In Scotland, completions were down 3% in Q4 ‘25 vs Q4 ‘24.
Download the report for the latest trends affecting the residential sector in Q4 2025.
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