Property market update for Portsmouth and Southsea

As we start the new year, I wanted to share a quick property market update for Portsmouth and Southsea, using the latest local figures.

New listings

In November, there were 254 new properties brought to market.
In December, this dropped to 191 new listings, which is a 19% decrease year on year.

This seasonal slowdown is very typical for December, as many homeowners choose to wait until the New Year before listing. With fewer properties coming to market, there’s often less competition for sellers who do stay active.

Sales agreed

Despite the reduction in new listings, buyer activity remained strong.

In November, we saw 250 sales agreed.
In December, there were 162 sales agreed, which is actually up 69% year on year.

This shows that motivated buyers are still very much active in the local market, particularly for well-priced and well-presented homes.

Average house prices

The current average house price in Portsmouth and Southsea is £290,723, which is 4% lower than this time last year.

This adjustment has helped bring the market into better balance, with more realistic pricing supporting continued movement and agreed sales.

Lettings update

In the rental market, average asking rents have increased by 1.5%, taking the current average asking rent to £1,385 per calendar month.

This marks a new record high, driven in part by the slowdown in new rental properties coming to the market, which continues to put upward pressure on rents.

We’ve also noticed an increase in new managed clients who are seeking the right advice and level of service to help guide them through the changes in legislation taking effect from 1st May.

In summary

we are looking forward to what is already shaping up to be a busy start to the New Year across both sales and lettings.

If you’re thinking about buying, selling, or reviewing your rental property in early 2026, now is a great time to start planning.

If you’d like tailored advice on your property or would like to know what your home is worth in today’s market, feel free to get in touch.

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