SK6, SK14, and SK15 Areas

Executive Summary
August 2025 has marked a notable shift in the local property landscape across the SK6, SK14, and SK15 postcodes, with the market demonstrating signs of cautious optimism amid a backdrop of ongoing economic uncertainty. While activity levels remain below the exceptional highs witnessed during the pandemic boom years, there are encouraging indicators suggesting a gradual stabilisation following the volatility of recent years.

Market Activity & Supply Dynamics
The total number of properties available for sale in August 2025 stood at 1,054 units, representing a notable 8.3% decrease compared to the same period last year (1,149 in August 2024). This contraction in available stock continues the trend that began post-pandemic, when supply levels normalised from the artificially inflated figures of August 2020 (1,146 properties).

New listings have also experienced a modest decline, with 251 properties entering the market in August 2025 versus 264 in the previous year. This 4.9% reduction suggests that homeowners are increasingly selective about timing their market entry, likely influenced by economic headwinds and interest rate considerations.

The supply contraction becomes more pronounced when viewed against the five-year average of 960 properties for sale, with current levels sitting 9.8% above this benchmark. This suggests the market retains adequate stock levels despite the year-on-year decline.

Pricing Trends: A Tale of Two Markets
Perhaps the most significant development in August 2025 has been the divergent pricing trends between asking prices and agreed sale prices, revealing important insights into buyer behaviour and market dynamics.

Asking Price Performance
New listings entering the market commanded an average asking price of £329,007 in August 2025, marking a notable decline of 5.5% compared to August 2024 (£348,237). This represents the first significant asking price reduction since the post-pandemic recovery began, suggesting vendors are becoming more realistic about market conditions. On a per-square-foot basis, asking prices averaged £319, up from £306 the previous year, indicating that while overall property values may be softening, quality and space continue to command premiums.

Sales Agreed: Market Reality
The agreed sales data tells a more complex story. Properties achieving sales agreed status in August 2025 averaged £278,794, representing a 6.4% decrease from August 2024’s £297,834. This widening gap between asking prices and agreed sale prices (approximately £50,213 in August 2025) suggests buyers are wielding greater negotiating power and vendors are accepting the new market reality.

The price per square foot for agreed sales rose to £297, up from £292 in August 2024, indicating that while overall property values are under pressure, buyers are still willing to pay for quality and space efficiency.

Sales Performance & Market Dynamics
Sales activity has shown resilience, with 233 properties achieving sales agreed status in August 2025, representing a 6.4% increase from the 219 recorded in August 2024. This uptick in agreed sales, despite the broader market challenges, suggests that realistic pricing is stimulating buyer interest and activity.

When compared to the exceptional activity levels of August 2020 (328 agreed sales), current performance remains 29% below peak levels. However, this normalisation was expected as the market moves away from the artificial stimulation created by pandemic-era policies and temporary tax reliefs.

Market Friction Indicators
The market is experiencing heightened levels of friction, as evidenced by transaction complications. Price changes occurred on 106 properties in August 2025, a significant decrease from the 154 recorded in August 2024, suggesting greater initial pricing accuracy.

However, withdrawal rates remain concerning, with 61 properties withdrawn from the market compared to 76 in the previous year. Fall-throughs decreased to 47 cases from 56 in August 2024, indicating improved transaction completion rates despite ongoing economic uncertainty.

Comparative Analysis: Five-Year Perspective
Viewing August 2025 in the context of the five-year cycle reveals important market maturation trends:

• 2020-2021: The pandemic boom years characterised by exceptional activity, government stimulus, and historically low interest rates
• 2022-2023: Market normalisation period with rising interest rates and economic uncertainty
• 2024-2025: Stabilisation phase with realistic pricing and sustainable activity levels

The current market represents a significant departure from the speculative highs of 2020-2021, instead reflecting a more balanced relationship between supply and demand.

Looking Ahead: Market Outlook
Several key factors will likely influence market performance in the coming months:

Positive Indicators:

• Increased sales agreed numbers suggesting buyer confidence
• More realistic asking price positioning
• Reduced market friction with fewer price changes
• Improved transaction completion rates

Challenges to Monitor:

• Continued pressure on property valuations
• Economic uncertainty affecting buyer confidence
• Interest rate environment impact on affordability
• Seasonal market dynamics entering autumn period

Conclusion
August 2025 represents a pivotal moment for the SK6, SK14, and SK15 property markets. While headline figures show declining property values and reduced market activity compared to 2024, the underlying trends suggest a market finding its equilibrium after years of volatility.

The convergence of realistic pricing, improved sales agreed numbers, and reduced market friction points to a maturing market where sustainable transactions are becoming the norm rather than the exception.

For both buyers and sellers, this environment rewards realistic expectations and quality properties, while penalising overambitious pricing and substandard offerings.

The market appears to be transitioning from a correction phase into a stabilisation period, providing a foundation for sustainable growth once broader economic conditions improve.

TL;DR (Too Long; Didn’t Read)

Key Findings:

• Market supply has contracted 8.3% year-on-year (1,054 vs 1,149 properties)
• Asking prices have declined 5.5% to £329,007 average
• Sales agreed activity has increased 6.4% despite pricing pressures
• The market shows signs of stabilization with reduced friction indicators

Notable Trends:

• Growing gap between asking prices and agreed sale prices suggests buyer negotiating power
• Price per square foot metrics show quality properties still command premiums
• Market withdrawal and fall-through rates have improved compared to 2024
• Five-year analysis reveals transition from pandemic boom to sustainable market conditions

The report positions August 2025 as a pivotal stabilization period where realistic pricing and market maturity are creating conditions for sustainable transactions, despite the overall price corrections from 2024 highs.