"While price reductions have been an ongoing trend, it’s particularly notable how many were recorded in April, coinciding with the end of the reduced stamp duty rate on March 31"
- Katy Billany - TwentyEA
More than 100,000 price reductions were recorded across the UK housing market in April, marking the highest figure for any April since 2019, according to new data from TwentyEA.
The analytics firm, part of the TwentyCi group, reported that 104,794 price drops were made last month, pushing the total number of reductions in 2025 to nearly 388,000. This represents a 20.6% rise year-on-year and is the highest total the firm has recorded over this period.
Despite the increase in volume, the overall rate of price reductions—defined as the proportion of listings with at least one price cut—has remained relatively stable. In 2025 so far, 38.0% of listings have included at least one reduction, compared with 38.4% in 2024. TwentyEA noted that the rise in raw numbers is largely due to an increase in the volume of properties for sale.
Changes in reduction rates have varied by region and price band. While most price brackets saw lower rates of reduction, properties priced over £1 million were the exception, with a 2.0 percentage point rise compared with last year. Regionally, only Inner London and the South West have seen an uptick in the proportion of listings undergoing price cuts—by 1.4 and 0.6 percentage points respectively.
The South East recorded the highest proportion of reductions in 2025 to date, with 42.1% of listings experiencing at least one price change.
The scale of April’s activity is significant when placed in historical context. During the pandemic-driven property boom and the stamp duty holiday in April 2021, just 51,376 sellers made price reductions—less than half the total seen in April 2025.
A broader indicator used by TwentyEA compares the number of price reductions to the volume of new instructions in a given month. In April, that ratio stood at 65%, the highest for any April since at least 2019. Although not all reductions applied to newly listed homes, this figure offers a useful gauge of market sentiment and seller adjustment.
“While price reductions have been an ongoing trend, it’s particularly notable how many were recorded in April, coinciding with the end of the reduced stamp duty rate on March 31," explained TwentyCi executive director, Katy Billany. "We’ll be closely monitoring whether this regulatory change leads to further reductions and a broader cooling of the market. So far this year, however, demand has remained strong. Over 437,000 sales have been agreed, 7.1% higher than in 2024—marking the highest demand level since 2022.”
Billany noted that demand growth has been especially strong in the North West (12.0%) and Wales (10.0%), with year-on-year increases across all price bands. The £350,000 to £1 million range showed the largest growth (10.8%), followed by the £200,000 to £350,000 band (9.2%).
