Has the local property market slowed down?
Over the past few weeks, I have noticed a definite change in the Thanet property market.
New enquiries have been quieter, some properties are taking longer to attract serious interest and buyers appear to be thinking more carefully before arranging viewings or making offers.
Initially, I wondered whether this was simply a quieter spell for us. However, conversations with other local agents, combined with what we are seeing across the market, suggest that the slowdown is more widespread.
That does not mean the market has stopped. Properties are still selling, buyers are still looking and sensibly priced homes are still attracting interest. But the market has become more selective.
A quieter summer than last year
The summer of 2026 appears to have been quieter than the same period last year, although broadly more comparable with 2024.
That distinction is important. It would be easy to describe the present market as having fallen off a cliff, but the reality is more nuanced. Last year was comparatively active, whereas this year has returned to something closer to the level experienced two years ago.
What has changed most noticeably is not simply the number of properties coming onto the market or agreeing sales. It is the amount of older stock that remains available.
More sellers are competing for fewer active buyers, and a growing proportion of properties have now been on the market for three months or longer.
September has felt particularly subdued
September would normally be expected to bring a renewed burst of activity after the school holidays. This year, that seasonal lift has so far been less pronounced.
There are still motivated buyers in the market, but they have plenty of choice and are generally taking their time. They can compare several similar properties, revisit their favourites and negotiate from a stronger position.
The result is that homes which are well presented, realistically priced and marketed effectively are receiving attention, while those that are even slightly out of step with the market can struggle to generate momentum.
What is selling?
There is no single type of property that buyers have stopped purchasing. Houses and flats are both still selling, but the level of demand varies considerably according to price, condition and location.
In broad terms, buyers are responding most positively to homes that offer:
- a realistic asking price;
- good presentation and strong photography;
- little immediate work after moving in;
- practical space for the money;
- a clear advantage over competing properties; and
- sellers who are genuinely prepared to engage with the market.
Three-bedroom family houses continue to attract buyers where the price reflects their condition and location. Two-bedroom houses can also perform well because they appeal to first-time buyers, downsizers and smaller families.
Flats are proving more challenging. Buyers have a wide choice, while service charges, lease terms, management arrangements and concerns about future costs are receiving far more scrutiny than they once did.
This does not mean that flats cannot sell. It means buyers need to see a compelling reason to choose one particular flat over all the others available.
Are price reductions making a difference?
A reduction can help, but only when it changes how buyers perceive the property.
Reducing a price by a token amount may generate a portal notification, but it will not necessarily bring the property into a different group of buyers’ searches or make it appear better value against the competition.
The most effective price changes tend to achieve at least one of two things:
- They move the property into a new search bracket.
- They create an obvious value advantage over comparable homes.
There is also an important difference between reducing the asking price and correcting it. If a property was launched above the level buyers were prepared to pay, bringing it back into line with the market is not giving the property away. It is placing it where buyers are more likely to engage with it.
The danger of remaining on the market for too long
Time on the market matters.
When a property first launches, it receives its greatest level of exposure. Buyers who have alerts set up see it immediately, active applicants notice it and the property benefits from being new.
If that initial interest does not produce viewings or offers, the listing gradually becomes familiar. Buyers may start to assume there is something wrong with it or that the seller is unlikely to negotiate.
This is why simply waiting for the market to improve is not always the safest strategy. As the weeks pass, new competing properties continue to appear and the original launch opportunity cannot be recreated without making a meaningful change.
That change might involve the price, presentation, photography, marketing approach or even the choice of agent. The correct answer will depend on the individual property.
Is Thanet now a buyers’ market?
In many parts of Thanet, buyers currently have the stronger hand.
They have more choice, less pressure to make an immediate decision and greater scope to negotiate. However, that does not mean every seller must accept a low offer.
A genuinely attractive property, launched at the right price, can still create competition. The difficulty arises when the asking price is based on what the seller needs, what a neighbouring property was advertised for or an optimistic valuation given months earlier.
Buyers are making direct comparisons. They are asking what else they can purchase for the same money—and then voting with their feet.
What should sellers do now?
If you are thinking of selling, the present market requires preparation and honesty.
Before launching, look carefully at the properties you will be competing against rather than relying solely on historic sale prices. Completed sales remain useful evidence, but today’s buyers are choosing between the homes available to them now.
If you are already on the market, consider the following questions:
- How many genuine enquiries and viewings have you received?
- Has interest changed since the initial launch?
- What objections are buyers raising?
- How does your home compare with newer competing listings?
- Is the asking price attracting the right audience?
- Has your agent recommended a clear strategy, or are you simply being told to wait?
A lack of offers is feedback in itself. It does not necessarily mean there is something fundamentally wrong with the property, but it usually indicates that buyers do not currently see sufficient value compared with their alternatives.
My honest view
The slowdown many sellers and estate agents are feeling is real, but it should not be confused with a complete collapse in the market.
Sales are still being agreed. Motivated buyers are still moving. The challenge is that there is considerable competition for their attention, particularly from properties that have already been available for some time.
For sellers, realistic pricing, strong presentation and proactive communication are more important than ever. Launching at an ambitious figure to “see what happens” can be costly if the property loses its initial momentum.
Equally, sellers should not reduce their price automatically without understanding the problem. Sometimes the price is wrong. Sometimes the presentation or marketing is letting the property down. In other cases, patience may still be appropriate.
The key is knowing which situation applies to you.
Is your property positioned correctly?
If your property has been on the market without the response you expected—or you are considering selling and want an honest assessment before committing—I offer a free Property MOT.
I will look at the price, presentation, marketing and competition, explain what I believe may be holding the sale back and tell you what I would change—and what I would leave alone.
There is no obligation and no hard sell. Just straightforward advice based on more than 20 years of experience in the local property market.
This update reflects our day-to-day experience of the Thanet property market and publicly available housing-market information. Proprietary portal data used internally by estate agents has not been reproduced, reformatted or published.