A year of recovery for the UK dental property market

2025 was a year of clear recovery for the UK dental property market, following the price correction of 2023 and the caution that characterised much of 2024, reveals a new report from Christie & Co.

Confidence returned as funding terms became more accessible and buyers adjusted to the new market reality, according to the property advisor’s newly-released Business Outlook 2026 report.

One notable shift during the year was the increasing presence of younger clinicians entering practice ownership earlier than originally planned.

Improved lending conditions and a more-stable pricing environment encouraged this cohort to act decisively, intensifying competition within the independent market.

First-time buyers accounted for 33% of dental practices sold through Christie & Co in 2025, while corporate purchasers represented just 7% of completed transactions, a reduction on the previous year.

However, a review of Christie & Co’s current pipeline activity points to a clear change in momentum.

Corporate buyers are returning to the market, with approximately 20% of live transactions expected to complete into corporate ownership.

The strongest outcomes will not necessarily be achieved by the largest practices or the fastest to market; they will be secured by those that are well prepared, well advised, and able to present a clear, credible proposition

This proportion is anticipated to increase further as higher-quality and larger site opportunities come forward, particularly those offering scale, operational resilience, and sustainable earnings.

Cost pressures remained a defining challenge throughout the year.

Staffing and materials continued to be affected by inflation, while increases in employers’ National Insurance contributions and the National Minimum Wage added further strain.

These pressures were felt most acutely within NHS-focused practices, where fixed contract values limit flexibility and margins are typically tighter.

Despite this, NHS dentistry continues to dominate headlines in the UK and many operators have shown considerable resilience in the face of workforce and financial constraints.

In response, an increasing number of practices are strengthening mixed-income models, improving long-term sustainability while continuing to provide essential NHS services.

PRICING

After a prolonged period of correction and stabilisation between 2022-2024, confidence in NHS dentistry strengthened materially in 2025, with goodwill values responding accordingly.

Corporate buyers re-engaged with the market and with Christie & Co’s processes, contributing to a more-competitive transactional environment.

This resulted in a 2.9% increase in the average price paid for a dental business during the year.

Practices with meaningful private income and stable, well-supported teams continued to achieve premium values, reflecting buyer preference for operational resilience and dependable profitability.

MARKET SENTIMENT

As part of its annual sentiment survey, Christie & Co canvassed views from dental professionals across the UK.

Looking ahead to 2026, 59% of respondents reported a positive outlook, while only 13% expressed a negative view.

In terms of activity, 58% stated that they were considering a sale and or acquisition during the year ahead.

PREDICTIONS FOR 2026

Looking forward, Christie & Co expects several key themes to shape the dental market in 2026.

• Corporate appetite is expected to strengthen further, particularly for private practices with strong EBITDA. High-value NHS practices are also likely to return to the focus of acquisitive activity for certain corporate and independent groups
• Small groups will remain attractive, offering the opportunity to acquire scale, revenue and EBITDA in a single transaction. These assets are expected to attract competition from private equity-backed buyers seeking a platform for future growth
• Buyers will continue to prioritise mixed-model practices. While private-led businesses are likely to maintain stronger values, NHS practices will attract more-cautious bids, supported by increased scrutiny of performance and sustainability
• Acceleration in the adoption of AI, CRM systems and fully-integrated digital workflows is expected to be standard across well-run practices
• Recruitment and retention will remain the most-pressing operational concern, particularly for NHS-led businesses

Paul Graham, managing director of medical at Christie & Co, said: “The transactional market is moving forward again, and as we progress through 2026, the quality of engagement between operators and buyers will continue to strengthen.

“That said, the strongest outcomes will not necessarily be achieved by the largest practices or the fastest to market; they will be secured by those that are well prepared, well advised, and able to present a clear, credible proposition.”