Date posted: 16/09/2022

Category: Uncategorised

Author: KM

Share on social media

  Back to news

‘We are a long way from a housing market crash’

More stock is coming to the market, but the number of sales agreed is slowing, new figures suggest. Property data company TwentyCi’s latest Homemover Pulse report for September suggests the market is cooling but stops short of calling it a crash.

It found that every region experienced a “significant boost” in new instructions compared with last month, except inner London.

Currently, there are 242,164 residential properties available for sale and 327,622 properties with sales agreed across the country, according to TwentyCi. There have also been 303,852 completions in the last three month.

Its report said: “With continued increases in new instructions, housing stock is being replenished at a faster rate.

“This is beginning to bring back some balance in the UK housing market. Strong annual house price growth makes an attractive market for sellers looking to request higher prices for their property.”

TwentyCi said: “This is the third month in a row that sales agreed have remained steady or shown a downturn. With rising mortgage rates, mortgage approvals on a downward trend and increased living costs on much of the UK population’s minds, house purchases might be a bridge too far for many. We’re still a long way off a housing market crash, but things are showing signs of cooling somewhat.

Scotland was the only region to demonstrate an increase in demand compared with last month, up 2%, while inner London experienced the biggest decline in demand – down 6.89%.  The Southeast continues to be the most popular region with 54,547 sales agreed. There have also been 303,852 completions in the last three months, which is up 4.34% on August.

TwentyCi said transaction times are decreasing but added: “With a national Bank Holiday announced for the day of the Queen’s state funeral, completions scheduled for 19th September will have to be moved. We await the impact of this with curiosity.

Modified article taken in part from an article from:

Estate Agent Today 

If you liked this article, you may enjoy this one:

Will House Prices Keep Rising? 

Important Information
All property sales and the financial advice that surrounds them are as unique as the people engaging in the transaction. It is important to not decide without seeking professional advice. If you want to sell your home and are considering redecorating before marketing, speak to one of our Property Professionals to get the best advice for presenting your home for sale before making any investment. This article is for the purpose of information only and should not be seen as financial advice.


  Back to news