Completed transactions dated 1 January–30 March 2025 versus 1 January–30 March 2026

I have analysed the raw Land Registry records using the exact inclusive dates requested.

The dataset contains:

BR2 Property Market: Forensic Comparison

• 205 relevant completed sales in 2025
• 90 relevant completed sales in 2026
• An overall recorded-sales reduction of 56.1%

The central finding is not simply that prices moved up or down.

It is that far fewer properties completed, and the type and calibre of property reaching completion changed significantly.

Headline comparison

Property type	2025 sales	2026 sales	Volume change	2025 median	2026 median	Median change	Average change
Flats	62	27	−56.5%	£323,750	£350,000	+8.1%	+2.2%
Terraces	36	30	−16.7%	£522,500	£591,250	+13.2%	+6.0%
Semis	69	23	−66.7%	£672,000	£595,000	−11.5%	+0.9%
Detached	38	10	−73.7%	£843,250	£870,000	+3.2%	−32.8%
All types	205	90	−56.1%	£550,000	£535,000	−2.7%	−14.8%

The overall average is heavily distorted by several very expensive detached sales in 2025. After reducing the influence of extreme transactions, the underlying overall decline is much smaller.

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1. Sales-volume analysis

Flats

Recorded sales fell from 62 to 27, a reduction of 56.5%.

Flats still represented almost exactly 30% of all transactions in both periods, so their share of the market remained stable. However, fewer than half as many flats completed.

That suggests a substantial decline in liquidity rather than flats simply losing market share to another property type.

Terraced houses

Terrace sales fell from 36 to 30, a comparatively modest reduction of 16.7%.

This is the clearest liquidity success story in the dataset.

Terraces accounted for:

• 17.6% of transactions in 2025
• 33.3% of transactions in 2026

Their share of recorded activity almost doubled.

That does not necessarily mean terrace demand doubled. It means terraces became a much larger part of the smaller pool of properties successfully reaching completion.

Semi-detached houses

Semi-detached sales fell from 69 to 23, a reduction of 66.7%.

Semis were the most frequently sold property type in early 2025. By early 2026, terraces had overtaken them.

Their share of all transactions fell from:

• 33.7% in 2025
• to 25.6% in 2026

This is meaningful evidence that the semi-detached market became substantially less liquid.

Detached houses

Detached transactions fell from 38 to just 10, a reduction of 73.7%.

This is the steepest volume decline of any category.

Detached homes represented:

• 18.5% of completed sales in 2025
• only 11.1% in 2026

Only ten transactions means any headline price movement must be treated with considerable caution.

Liquidity verdict

From strongest to weakest:

1. Terraces
2. Flats
3. Semis
4. Detached

Terraces were the only property type to retain anything close to their previous transaction level.

The detached and semi-detached sectors showed the clearest contraction.

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2. Flats

Price movement

Measure	2025	2026	Change
Lower quartile	£272,000	£291,000	+7.0%
Median	£323,750	£350,000	+8.1%
Upper quartile	£365,750	£415,000	+13.5%
Average	£336,481	£343,926	+2.2%
10% trimmed average	£324,577	£348,500	+7.4%

The quartile and trimmed-average figures all moved upwards.

That is important because it means the rise is not solely the result of one or two unusually expensive flats.

The middle 50% of flat sales shifted from:

• £272,000–£365,750 in 2025
• to £291,000–£415,000 in 2026

The upper part of the flat market appears to have strengthened most.

Sales-mix evidence

The raw average rose by only 2.2%, while the median and trimmed average rose by around 7%–8%.

That difference is partly explained by a £90,000 transaction in 2026, which drags down the ordinary average.

Once the highest and lowest transactions are reduced in influence, the underlying movement looks stronger.

However, the geographical mix also changed. There were fewer sales in lower-priced BR2 sectors and proportionately more mid-to-upper-market completions.

What the evidence proves

• Far fewer flats completed.
• The middle of the completed flat market moved upwards.
• The rise was not caused by only one premium transaction.
• The surviving completed sample was weighted more heavily towards stronger-value flats.

What it merely suggests

It suggests desirable and well-positioned flats may be holding up well.

It does not prove that every BR2 flat increased in value by 8.1%. The same individual flats were not compared year on year.

Flat verdict

Prices appear resilient, but liquidity is weak.

The data is consistent with buyers continuing to purchase stronger flats while a larger number of less compelling or incorrectly positioned flats fail to complete.

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3. Terraced houses

Price movement

Measure	2025	2026	Change
Lower quartile	£468,750	£510,000	+8.8%
Median	£522,500	£591,250	+13.2%
Upper quartile	£575,000	£625,000	+8.7%
Average	£532,492	£564,450	+6.0%
10% trimmed average	£528,558	£577,396	+9.2%

Terraces show the strongest combination of relative liquidity and price resilience.

All five measures increased.

The middle 50% of recorded terrace transactions moved from:

• £468,750–£575,000
• to £510,000–£625,000

This indicates an upward shift throughout the distribution rather than just at the very top.

Important distortion

There are two unusually low transactions in the 2026 terrace sample:

• £218,000
• £228,000

There is also one leasehold terrace recorded at £375,000.

These transactions materially reduce the ordinary average. Despite them, the median still increased by 13.2%.

The trimmed average rose by 9.2%, supporting the conclusion that underlying completed-sale values were stronger.

Sales-mix evidence

More expensive BR2 0 and BR2 7 terrace transactions formed a meaningful part of the 2026 sample.

However, the increase was not confined to one postcode sector. Medians in several sectors were higher than in the equivalent 2025 sample.

The crucial difference is that terrace volumes declined by only 16.7%, compared with reductions above 50% for every other category.

What the evidence proves

• Terraces retained activity far better than other property types.
• Completed-sale prices moved upwards across the quartiles.
• The result remains positive after reducing the influence of extreme transactions.
• Terraces formed one-third of the completed 2026 market.

What it merely suggests

It suggests terraces were closer to the affordability and demand “sweet spot” for BR2 buyers.

It does not prove that every terrace gained 13.2%. A changed mix of streets, sizes and conditions will still influence the median.

Terrace verdict

Terraces are the strongest-performing category in this comparison.

They remained relatively liquid and produced the most convincing evidence of price resilience.

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4. Semi-detached houses

Price movement

Measure	2025	2026	Change
Lower quartile	£550,000	£534,250	−2.9%
Median	£672,000	£595,000	−11.5%
Upper quartile	£795,000	£802,500	+0.9%
Average	£663,891	£669,561	+0.9%
10% trimmed average	£665,728	£646,500	−2.9%

At first glance, semis appear contradictory.

The median fell by 11.5%, while the ordinary average edged upwards.

The quartiles explain why.

The lower end softened slightly, while the upper quartile remained broadly unchanged. Two £1 million-plus transactions in BR2 0 elevated the 2026 average:

• £1.23 million
• £930,000

Without the extremes, the trimmed average fell by 2.9%.

This is a much more realistic description of the underlying movement than either the median decline or the small average rise viewed in isolation.

Sales-mix evidence

Only two BR2 0 semi-detached transactions completed in the 2026 period, and both were expensive. These heavily influence the average.

Meanwhile, a larger proportion of the sample came from BR2 8 and BR2 9, where semis generally completed at lower levels.

The 2025 sample contained 24 BR2 7 transactions and 18 BR2 0 transactions. In 2026, only seven combined sales occurred across those two sectors.

This is a major change in geographical sales mix.

What the evidence proves

• Semi-detached liquidity deteriorated sharply.
• The median completed price was lower.
• The ordinary average was supported by a small number of expensive sales.
• After trimming outliers, the central market was approximately 2.9% lower.
• The upper quartile remained broadly resilient.

What it merely suggests

It suggests the semi-detached market may have split into two parts:

• premium semis that can still command strong prices;
• mainstream semis facing greater buyer resistance.

It does not prove that the typical semi lost precisely 11.5%. The changed postcode and price mix makes that figure too blunt.

Semi-detached verdict

The semi-detached market looks softer, but not as weak as the headline median suggests.

The most defensible conclusion is that mainstream values softened modestly while transaction activity fell very sharply.

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5. Detached houses

Price movement

Measure	2025	2026	Change
Lower quartile	£731,250	£623,120	−14.8%
Median	£843,250	£870,000	+3.2%
Upper quartile	£1,471,250	£1,010,125	−31.3%
Average	£1,268,697	£852,398	−32.8%
10% trimmed average	£1,077,547	£837,997	−22.2%

Detached homes provide the clearest example of why a headline median can be misleading.

The median rose by 3.2%, yet:

• the lower quartile fell by 14.8%;
• the upper quartile fell by 31.3%;
• the trimmed average fell by 22.2%;
• transaction volume fell by 73.7%.

The 2025 sample included several exceptional prime sales:

• £4,999,999
• £4,075,000
• £3,100,000
• £2,800,000

These properties made the 2025 average exceptionally high.

Only one 2026 detached sale exceeded £1.1 million.

Therefore, the 32.8% average decline does not mean an equivalent detached house lost one-third of its value. It largely reflects the absence of ultra-prime transactions from the 2026 sample.

However, the lower and upper quartile declines show that the weakness is not caused solely by the £4.999 million outlier.

Sales-mix evidence

The premium BR2 6 sector accounted for nine detached sales in 2025, including most of the multimillion-pound transactions.

Only one BR2 6 detached sale appears in the 2026 period.

Half of the 2026 detached transactions were in BR2 8, where the median was substantially lower.

This is a profound sales-mix change.

What the evidence proves

• Detached transaction activity collapsed.
• Ultra-prime sales were far less represented in 2026.
• The average comparison is heavily distorted by the 2025 luxury mix.
• Even after trimming extremes, the completed sample was weaker.
• Only ten 2026 transactions exist, so confidence is limited.

What it merely suggests

It suggests buyers at the upper end became more cautious and that fewer premium owners successfully completed sales.

It does not prove that the same detached home fell by 22% or 33%.

Nor does the 3.2% median rise prove detached values increased. With only ten sales and a radically different geographical mix, the median is not a reliable measure of general growth.

Detached verdict

Detached homes show the weakest liquidity and the least reliable headline price movement.

The evidence points to a much thinner, more selective upper market, but the sample is too small and too different to quantify an exact change in like-for-like values.

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Overall sales-mix analysis

The composition of the completed market changed markedly.

Property type	Share of 2025 sales	Share of 2026 sales
Flats	30.2%	30.0%
Terraces	17.6%	33.3%
Semis	33.7%	25.6%
Detached	18.5%	11.1%

This matters because overall postcode-level prices are influenced by which types of homes sell.

In 2026:

• terraces formed a much larger part of the market;
• detached homes formed a much smaller part;
• semis also lost share;
• flats remained stable as a proportion.

The decline in higher-value detached representation naturally pulls down the overall average and median, even before considering genuine changes in individual property values.

The overall average fell by 14.8%, but the overall 10% trimmed average fell by only approximately 5.1%.

That is strong evidence that extreme and premium sales mix explains a meaningful portion of the apparent decline.

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Buyer-behaviour interpretation

The data appears to show a more selective, affordability-conscious market.

Buyers did not disappear completely. They concentrated their activity.

Terraces, sitting broadly between flats and larger family homes, retained activity and achieved strong prices. This may reflect buyers prioritising:

• usable family accommodation;
• manageable running and refurbishment costs;
• accessible borrowing requirements;
• stronger perceived value relative to semis and detached homes.

The much lower volume of semis and detached homes suggests buyers at higher price points had more choice and greater negotiating power.

For larger properties, buyers are also likely to be mentally adding the cost of:

• kitchens;
• bathrooms;
• flooring;
• decoration;
• roofing and windows;
• heating and energy improvements;
• landscaping and general maintenance.

The larger the home, the greater the perceived refurbishment liability.

That can make additional square footage feel less valuable where the presentation and condition do not justify the asking price.

The evidence is therefore consistent with a market where:

Buyers are still paying strong prices—but only when the proposition feels compelling.

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Property Perfectionist™ forensic verdict

What the data genuinely proves

The data proves that:

• BR2 recorded 56.1% fewer completed transactions.
• Every property type recorded fewer sales.
• Terraces experienced the smallest volume decline.
• Semis and detached homes experienced severe reductions in liquidity.
• Terrace completed prices moved upwards across all central measures.
• Flat completed prices also moved upwards after controlling partially for extremes.
• The semi-detached median declined, although premium transactions supported the average.
• Detached averages were heavily distorted by the absence of several multimillion-pound 2025 sales.
• The mix of properties and postcode sectors completing changed substantially.

What the data strongly suggests

The data strongly suggests that:

• terraces occupied the strongest part of the BR2 market;
• affordability and perceived value influenced buyer choice;
• stronger and better-positioned homes were more likely to reach completion;
• mainstream semis faced greater resistance;
• the detached market became considerably more selective;
• presentation, condition and price positioning mattered more as buyers gained choice.

What the data cannot prove

It cannot prove that:

• every BR2 flat rose by 8.1%;
• every terrace rose by 13.2%;
• every semi fell by 11.5%;
• every detached house lost 22%–33%;
• unsold homes were necessarily overpriced;
• the entire reduction represents a permanent collapse in demand.

Land Registry data shows completed transactions. It does not show:

• the number of properties originally listed;
• withdrawn listings;
• failed sales;
• reductions;
• viewing levels;
• competing offers;
• property condition;
• floor area;
• exact marketing strategy.

Final conclusion

The most accurate conclusion is not:

“BR2 prices have risen.”

Nor is it:

“The BR2 market has collapsed.”

It is:

BR2 recorded far fewer completed sales, and buyers concentrated disproportionately on terraces and selected stronger opportunities. Price movements were heavily affected by the type, location and calibre of homes that completed.

Terraces provide the strongest evidence of resilience.

Flats appear relatively stable to positive, despite poor liquidity.

Semis show moderate underlying softness and a dramatic fall in completed sales.

Detached homes show the greatest reduction in liquidity and the greatest distortion from changing sales mix.

For sellers, the most important statistic is therefore not a single median-price movement.

It is the 56.1% fall in recorded completions.

In a market where fewer properties are successfully crossing the line, being merely comparable is no longer enough.

Buyers compare.

The strongest proposition wins.

Clarity. Not optimism. Not guesswork. Just evidence.