"In a market where the average time to go sold subject to contract (SSTC) now stands at 77 days, the longest in the past five years, sellers of homes under £1 million should question whether the off-market approach puts them in the best position to secure a sale"
- Katy Billany - TwentyEA
More than one in six residential properties changed hands off-market between 2022 and 2024, according to new research from TwentyEA. Off-market sales occur without a listing on portals, estate agent websites, shop windows, or auction platforms. Instead, these transactions take place through private networks, including buying agents, word of mouth, direct approaches to investors, or estate agents connecting homes with buyers already on their books.
TwentyEA’s latest Property & Homemover Report found that 15.8% of all properties in England and Wales were sold off-market during the three-year period. The proportion was highest in 2022, at 17.8%, dipped slightly to 17.2% in 2023, and then fell sharply to 11.4% in 2024.
“This year-on-year contraction points to a structural market recalibration," comments TwentyEA executive director, Katy Billany. "Supply grew by 10% in 2024 compared with 2023, alongside successive interest rate reductions, encouraging more sellers to come forward. In a buyers’ market, sellers need a full marketing package, professional photography, portal listings, and active promotion to secure a sale.”
Price divides highlight market differences
The report also found that the £1 million price point marks a clear divide in how homes are sold. Properties below this threshold were sold off-market only 6.7% of the time, whereas homes above £1 million were sold off-market in 20.1% of cases. This contrast reflects two distinct markets: one public and price-sensitive, the other discreet and driven by exclusivity. High-net-worth transactions prioritise limited viewings, exclusive access, and strong privacy protections, while sellers of lower-value homes rely on maximum market exposure to attract more buyers.
Billany added, “In a market where the average time to go sold subject to contract (SSTC) now stands at 77 days, the longest in the past five years, sellers of homes under £1 million should question whether the off-market approach puts them in the best position to secure a sale.”
Market trends in Q3 2025
Residential property activity remains slightly above 2024 levels. Supply of new instructions rose by 1.7% compared with Q3 2024, while sales agreed volumes increased by 3.2%. The earlier surge of buyers rushing to complete ahead of Stamp Duty changes in Q1 has now corrected, bringing activity broadly in line with Q3 2024 levels.
Price reductions continue to define the market. Year-to-date, there have been 919,000 reductions, the highest on record and 16% higher year-on-year. Overall, 38.7% of concluded listings saw at least one price reduction. Reductions were most pronounced among £1 million-plus properties, where rates increased by 3.1%. Regionally, price reduction rates are easing in the North but rising in London and the South, with inner London seeing a 3.0 percentage point increase, making it the weakest-performing region.
Fall-throughs have also risen, up 0.5% year-on-year to exceed 82,000 sales.
Billany added, “With 82,000 sales falling through in Q3 alone, we’re fully behind the government’s push to shake up the homebuying process. Waiting four months just to exchange contracts is far too long, so it’s no surprise buyers get cold feet or unexpected issues crop up in surveys. A bit more upfront information at the start could really help smooth things out. As we head into the final stretch of the year, we’re cautiously optimistic.”
