Housing market update: buyer demand still up 27% on 2019
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Sales agreed hold relatively steady and demand soften. However, most metrics are still significantly up on 2019 - the last "normal" market.
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Sales still being agreed and new listings increasing
- Sales agreed are at the same level they were at this time in 2019
- New listings maintain their recent upward trend - up 12% compared to 2019
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Some buyers are adopting a wait and see approach
- Detail views over the last week are up 13% vs. 2021 and 47% vs. 2019
- Demand is 19% down compared to last week but is still up 27% vs. 2019
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No big rise in price reductions
Small uplift of 2% in price reductions over the last few days, but only 23% of properties have been reduced since being listed compared to 33% in 2019
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No big shock in pricing trends
Average asking prices up 8.3% (sales) and up 12.1% (rental) year-on-year
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Thank you to Rightmove for these figures
