Wednesday, 10 August 2022

House sales dip for first time since 2012


THE number of agreed house sales has dipped for the first time since September 2012, but the overall picture shows a return to a less volatile market.

The next three months will see more stable price expectations according to a net balance of nine per cent of surveyors who are now expecting prices to rise, rather than fall — down from 51 per cent at the start of the year.

Significantly, the concern over a potential rise in interest rates could be a contributing factor to the fall in buyer interest and the number of agreed house sales. Members also indicated that Mortgage Market Review (MMR) — and an increasingly acute shortage of conveyancers — is adding between two and four weeks on to the time it takes to complete a transaction.

At a national level, the sales and demand picture was mixed. In London, the South West and the West Midlands, there was a significant dip in new buyer interest, but Scotland and Northern Ireland were noticeable exceptions, where buyer enquiries remain firm, with a net balance of 43 per cent and 52 per cent respectively.

While a lack of supply remains a challenge for the market across the whole of the country, there are some signs in the capital, where this problem has been most chronic, that instructions are now picking up.


Looking for a job?

Sales Roles

Location Henley-on-Thames

Sales position We have a vacancy for a full-time sales person or two part-time sales persons (flexible hours and days) ...


Practice manager

Location Sonning Common

Full-time, 37.5 hours per week. Sonning Common Health Centre, Sonning Common, Reading, RG4 9SW. Salary depending on ...