08/04/2022
Is the property market set to slow down? After the home-moving frenzy of 2021, there’s now a mismatch between supply and demand. A recent survey by the estate agency Savills found that nine-in-10 current house hunters have had their search affected by a lack of available properties. The estate agency trade body Propertymark reported an average of 26 prospective buyers for every available property in February. It says 80% of properties sold for asking price or above, compared to 78% in January. The imbalance between supply and demand is reflected in Rightmove’s ‘time to sell’ data. The property portal estimates that homes took an average of 36 days to sell in February, down from 44 days in January.
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Read more: https://www.which.co.uk/news/2022/04/whats-happening-to-house-prices/ - Which?
Discover what’s happening to the property market, with the latest news on house price growth, sales figures and predictions for the rest of 2022.