A Housing Market Update
Posted 30 September 2022 by Stella Buckingham
The current financial situation has dominated the headlines this week, with stamp duty cuts and mortgage deals both at the centre of the discussion.
But we know that some of our clients are asking whether now is still a good time to move. To help with these questions and with the help of Rightmove* data, we can give you some answers. Please feel free to come in and talk to one of the our experienced and knowledgeable team, as our knowledge of the local sales and lettings market, is a sure fire way of getting even more guidance on some of those questions.
Here are some resasuring stats*:
| Healthy number of sales agreed The number of sales agreed on Tuesday was the highest number in one day since early August |
| Limited impact on demand so far On Monday and Tuesday, demand from buyers (sending leads to agents and developers) was down just 3% compared with other Mondays and Tuesdays this month |
| Average September rate of fall throughs Over the past few days we’ve seen fall throughs in line with what we’ve seen for all of September |
| No change to rate of price reductions On Monday and Tuesday 1.6% of all properties were reduced. This is the same level of reductions that we saw on other Mondays and Tuesdays this month |
| Mortgage products withdrawn, but there is still choice A number of mortgage products have been withdrawn, but according to Moneyfacts there are currently over 2,600 mortgage products available in the market |
Read more on the Rightmove data here.
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