Viewings Collapse to 1.7 Per Property as Sellers Lose Pricing Power

The UK property market is showing unmistakable signs of a power shift from seller to buyer, with new Propertymark data revealing that the average number of viewings per property for sale has fallen to just 1.7, down from nearly four two years ago. Compounding this, Propertymark's report found that 86% of estate agents reported properties achieving less than the asking price. Together these figures paint a picture of a market where sellers are struggling to generate competitive interest and buyers are increasingly dictating terms.

For professional investors and landlords, this matters enormously. A collapse in viewings of this magnitude, effectively a 57% decline, suggests that the days of multiple offers and bidding wars that characterised the post-pandemic market are firmly over in large parts of the country. Fewer viewings per listing typically means longer time on market, more price reductions, and greater negotiating room for those with cash or mortgage approval ready to move. For buy-to-let landlords and portfolio investors who have spent the last two years watching stock sit static, this data offers tangible evidence that the balance of power has moved in their favour.

The finding that 86% of agents are seeing sales fall below asking price is particularly significant because it is so widespread. This is not a localised phenomenon confined to one region or property type, but appears to reflect a near-universal condition across the agent network surveyed by Propertymark. This has direct implications for how vendors in cities such as Manchester, Birmingham, Leeds, Liverpool and Newcastle should be pricing their properties from the outset. Overpricing in the current climate risks a listing languishing with minimal viewings, which in turn can create a negative signal to prospective buyers that something is wrong with the property, further depressing eventual sale price.

London and the South East, including commuter markets like Surrey, present a more nuanced picture. These areas have historically commanded premium pricing power, but if the national pattern of reduced viewings is replicated there, even traditionally resilient markets could see vendors forced into more realistic pricing strategies. PropertyNews analysis suggests that agents in higher-value markets may need to work harder to generate the volume of interest that once came naturally, particularly as affordability constraints continue to weigh on buyer activity nationwide.

For first-time buyers, this shift in dynamics could represent a genuine opportunity. A market with fewer viewings and more properties selling under asking price is one where patient buyers with their finances in order can negotiate more favourably than at any point in recent years. However, the flip side is that reduced viewing activity could also reflect genuine affordability pressures keeping buyers out of the market altogether, rather than purely a negotiating tactic. Mortgage brokers and advisers will need to help clients distinguish between a market offering opportunity and one signalling deeper demand-side weakness.

Looking ahead to the next six to twelve months, this data should prompt a recalibration of expectations across the industry. Developers bringing new stock to market will need to price realistically from day one rather than testing the market with aspirational figures, given that the margin for correction through viewings-driven interest has narrowed considerably. Commercial investors eyeing residential-adjacent opportunities, such as build-to-rent or single-family housing schemes, should treat this as confirmation that the sales market is cooling in a way that could sustain rental demand, as would-be buyers who cannot achieve their price expectations remain in rented accommodation for longer. Estate agents themselves face a harder task: with less natural footfall per listing, marketing quality, accurate pricing and proactive buyer matching become more critical to closing deals.

The clearest conclusion from this data is that the UK sales market has moved decisively away from the frenzied conditions of recent years and into a phase defined by buyer caution and seller realism. Vendors who fail to adjust pricing expectations risk extended marketing periods and eventual price reductions that erode confidence further. Those who price correctly from the outset, by contrast, stand the best chance of achieving a sale close to asking price even in a market where viewings are scarce. For investors, the message is equally clear: negotiating leverage has shifted, and those prepared to move decisively with realistic offers are likely to find more willing sellers than at any point in the recent past.