Buyers have more choice in the market, while sellers are increasingly facing pricing pressure, according to a new report highlighting a widening gap between supply and demand conditions.

The data provided Sprift, as part of its analysis from its latest sales market intelligence report, based on March 2026 activity, shows 204,131 new listings across Great Britain in the latest period, up 9.6% compared with February, alongside 102,532 sales agreed, down 5.9% over the same timeframe.

As a result, the overall conversion rate has fallen to 50.2%, an 8.3 percentage point decline month-on-month.

Pricing adjustments appear to be playing a growing role, with 35.4% of listings reduced during the period, suggesting sellers are having to respond more actively to buyer resistance.

Regional variation is also evident, with London recording a notably lower conversion rate of 33.8%, indicating higher price sensitivity in the capital compared with the national average.

In terms of housing stock, three-bedroom semi-detached homes accounted for the largest share of activity, while two-bedroom bungalows recorded the strongest conversion performance, pointing to continued demand for more accessible and downsizer-friendly property types.

On the development side, planning applications fell by 10.5% compared with February. However, of those decided, approval rates remained high at 83%, suggesting that while fewer applications are being submitted, planning consent continues to be granted at a strong rate.