Connells Group says only 52% of homes listed in January secured an offer within six months, down from 58% a year earlier, as buyers became more selective and higher-value stock took longer to move.
The estate agency group said the slowdown was not spread evenly across the market. Two and three-bedroom homes still held up best, while the share of five-bedroom homes getting an offer within six months dropped from 59% to 41%. Leasehold homes also lost momentum, with the six-month offer rate falling from 57% to 48%.
For landlords and investors, that matters now because a softer sales market can cut both ways. It may open a buying window in some areas, but it also points to slower disposal times for landlords who want to exit, especially where flats and higher-value stock are already under pressure.
Connells data highlights sharper slowdown for flats and larger homes
Connells said two-bedroom homes were the strongest-performing part of the market, with 55% securing an offer within six months, followed by three-bedroom homes at 53%. By contrast, only 41% of five-bedroom homes found an offer in the same period.
The group also said freehold homes outperformed leasehold stock. Around 53% of freehold homes attracted an offer within six months this year, compared with 48% of leasehold homes, reflecting weaker appetite for flats as service charges, affordability pressure and wider caution weigh on demand.
Aneisha Beveridge, research director at Connells Group, said buyers were becoming more selective about where they spent their money, with strongest demand concentrated in the middle market while higher-value homes faced a tougher environment.
This follows Residential Landlord’s recent coverage of the widening gap between houses and flats, which showed how leasehold costs and weaker buyer appetite were already dragging on part of the market. The latest Connells figures suggest that split is still shaping deal flow as well as pricing.
There is also a timing link with Residential Landlord’s reporting on homebuying reform, because slower offer rates and more cautious buyers make transaction certainty more valuable. Connells published the underlying analysis in The middle of the market keeps moving.
What a choosier market means for landlords
Landlords looking to buy may find more room to negotiate, particularly on flats or larger homes in weaker southern markets. That could matter for investors prepared to buy stock that owner-occupiers are passing over.
But landlords thinking about a sale should take the same data as a warning. If buyers are taking longer to commit and price cuts are less effective than before, disposal plans may need more time and more realism on price.
The leasehold split is especially relevant. Investors holding flats in areas with high service charges or stretched affordability may face a thinner buyer pool than headline house-price numbers suggest.
Opinion
The useful part of Connells’ update is not the broad claim that the market is still moving. It is the reminder that parts of it are moving at very different speeds. Landlords who treat flats, family houses and premium stock as one market risk getting their pricing badly wrong.
