There were 816 local market properties sold across 2025, with 246 sold in the last quarter alone, almost half of the total sold in 2024. However, the average price fell by more than £8,000, dipping below the £600,000 barrier at £595,820.
Nick Paluch, director of residential sales at Savills, said the latest housing figures showed that both the local and open markets performed well last year.
‘Encouragingly, 2026 has started life in a similar fashion, with some noteworthy deals already agreed in January and the early days of February.
‘Some of this activity is a carry-over from pent-up demand in 2025, but we are also seeing fresh interest,’ he said.
‘Exchanges are up on what’s considered normal for this time of year and people who had seemingly held off appear to have dusted down their plans to move.’
He said that in the local market, the slight reduction of prices combined with a softening of interest rates has led to a notable upturn in transactions.
‘Realistically priced, well-maintained homes continue to have strong appeal and while we expect the markets to remain finely balanced, momentum should build as confidence grows.’
The final sale price of local market properties in the final quarter was, on average, 8.4% lower than the maximum advertised price and Andre Austin, director at Swoffers, said this was a reflection that it was still a price-sensitive buyers’ market.
‘You’ve got to be on the money with price,’ he said.
‘Vendors are having to be realistic, and if they are, they’re seeing good results and good early success. People are well researched.
‘People moving up the ladder are, in turn, invariably negotiating on the ongoing purchase price and sort of passing on that reduction they have seen.’
The market saw a slight drop in volume last month after a busy end to 2025, but Mr Austin said this was not concerning.
‘I think already the signs are very encouraging for 2026 and January was just the market returning from the Christmas slumber,’ he said. ‘We’ve got nearly 60 local market houses under offer so it’s just been a continuation of last year. It’s very, very busy at the moment – we feel like we’re picking up where we left off.’
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