Experts say it is a paradox. The layman calls it a contradiction. That is what Nigeria and the UK present to the world in terms of demand and supply in their respective housing markets.
Whereas supply outstrips demand in the UK as reflected in the 7 percent rise in property listings in 2025, the reverse is the case in Nigeria, where demand is always far ahead of supply in the ratio of projected 700,000: 50,000 — 100,000 units annually.
Due to a lack of reliable data, it is difficult to state the number of houses listed on Nigeria’s property market in any given year, including the just-ended 2025.
However, the Nigerian Property Market Index puts the value of the total listings in the market in 2025 at approximately $2.61 trillion as of September 2025. Though this reflects a robust demand and growth in the real estate sector, driven by factors such as urbanization and infrastructure development, it did not translate to oversupply.
This is a sharp contradiction of the UK market, where PropertyWire, an online research platform, reports that property listings in the market rose 7 percent, causing supply to outpace demand.
It explained that the market recorded nearly 1.7 million property listings in 2025, representing a 7 percent increase compared to the average since 2017, citing data from Chris Watkin and TwentyEA.
“However, this increase in supply has coincided with moderating price growth and declining buyer activity in the final quarter of the year,” the report noted.
Declining buyer activity in the UK also contrasts with the activity in the Nigerian market within the same period. According to the market index, September 2025 recorded robust demand, estimated at 46.2 percent for rentals, and 15 percent price growth.
The price growth happened in suburbs like Ibeju Lekki, and was driven by federal government policies like the fraud-reporting portal and 50 percent faster title processing. With 73 percent of Nigerians wary of fraud, data-driven insights are essential.
In the UK market, Gross sales reached the second-highest level on record, with approximately 74 percent of advertised properties sold during the year. Government transaction data shows a lower completion rate, with just over 1 million transactions recorded by the end of November, suggesting a final figure of around 1.1 million for 2025.
PropertyWire quotes Zoopla as saying that budget uncertainty dampened market activity in the year under review, explaining that speculation surrounding the government budget dampened housing market activity in late 2025 beyond typical seasonal patterns.
“The fourth quarter recorded the sharpest fall in closed sales since 2022, with demand running 12 percent below the previous year and closed sales down 9 percent. This slowdown will not affect 2025 transaction totals, as completions typically lag by around 5 months. The impact is expected to emerge in early 2026, contributing to a modest dip in sales to 1.18m,” Zoopla stated.
