Q1 2026 Property Market Update – HR1, HR2 & HR4

Q1 2026 (1st Jan - 31st March) Property Market Update – HR1, HR2 & HR4

The first quarter of 2026 has given us a clear insight into how the local property market across HR1, HR2 and HR4 is performing compared to the same period last year. In this report, we take a look at the key statistics around listings, sales, and price reductions, and what they tell us about current market conditions. While there is still movement in the market, the data highlights a shift in balance between supply and demand, something both buyers and sellers need to be aware of.

The Key Numbers

New Instructions (Properties Coming to Market)

Across Q1 2026, there were 737 new properties listed, compared to 645 in Q1 2025. This represents a 14.3% increase year on year, showing that more homeowners are choosing to bring their properties to market.

• At Andrew Morris, we listed 52 properties which is a market share of 7.06%.

Sales Agreed

There were 463 sales agreed in Q1 2026, compared to 474 in Q1 2025, representing a 2.3% decrease.

• At Andrew Morris, we agreed 37 sales, up from 34 in Q1 2025, which is an 8.8% increase year on year, showing we are continuing to perform well in getting properties sold despite wider market conditions.

Sales to Instructions Ratio

This is one of the most important indicators of market health.

• Q1 2026: 463 sales from 737 instructions = 62.8%

• Q1 2025: 474 sales from 645 instructions = 73.5%

This shows a 10.7 percentage point drop, highlighting that a smaller proportion of listed homes are successfully securing buyers.

Price Reductions

There were 333 price reductions in Q1 2026, compared to 276 in Q1 2025, an increase of 20.7%.

As a proportion of listings:

• Q1 2026: 45.2% of properties reduced in price

• Q1 2025: 42.8%

What Does This Mean for the Market?

The data clearly shows that while there is activity in the market, it is happening at a slightly lower level than this time last year.

One key factor behind this is likely the surge in activity seen at the start of 2025, as buyers and sellers rushed to take advantage of the stamp duty holiday. That created an unusually strong Q1 last year, making this year’s figures appear softer by comparison.

At the same time, we are seeing more properties coming to market, which is a positive sign. It shows confidence from homeowners and a desire to move forward. However, this increase in supply is currently outpacing buyer demand.

There are wider influences at play too. Ongoing global uncertainty, including geopolitical tensions such as the situation involving Iran, has had a knock-on effect on costs and general confidence. Buyers are still active, but they are more cautious, more selective, and taking longer to make decisions.

What We Are Seeing on the Ground

In practical terms, this means buyers now have more choice than they did a year ago. With a larger pool of properties available, they are able to compare options more carefully and negotiate more confidently.

For sellers, this creates a more competitive environment.

The most successful properties right now are those that get two things right from day one:

1. Presentation and Marketing

Your property needs to stand out. High-quality photography, strong marketing, and maximum exposure are essential to generate early interest.

2. Pricing Strategy

Pricing correctly at launch is absolutely critical. A realistic and competitive price will attract more attention in the first few weeks, which is when your property is most visible and most likely to achieve its best result.

If you can generate strong interest early on, you are far more likely to achieve full market value. Get it wrong, and the risk is chasing the market down with price reductions later, something the data shows is becoming increasingly common.

Final Thoughts

The Q1 2026 market is best described as active, but more balanced in favour of buyers than sellers. There are still plenty of successful sales happening, but the strategy behind going to market has never been more important.

If you’re thinking of moving in HR1, HR2 or HR4, getting the right advice at the outset can make a significant difference to your outcome.

Feel free to get in touch, we’re always happy to offer honest, straightforward guidance on your next move.