
Homebuyer appetite down in 2023, research finds
Across England and Wales proportional sales fell by 5.6%.

Across England and Wales proportional sales fell by 5.6%.

The average number of new prospective buyers registered per member branch was up to an average of 81 in August 2023.

House Buyer Bureau analysed the number of homes sold over the last five years across England.

According to Bloomberg Intelligence's Housing Pulse, Barratt, Taylor Wimpey and Persimmon have all flagged falling demand, potentially impacting 2023-24 completions.

Providing an overview of the current property market, TwentyCi’s report found that the average house price stands at around £279,569.

The assessment from deVere Group’s investment director, James Green, comes as property sales and, in turn, prices are falling at the fastest rate in a decade, according to several sources.

There will be an estimated 920,000 transactions in 2023, 1.3% more than the 909,000 recorded in 2022.

However, further analysis from BI’s latest UK Housing Pulse found that early signs of a very modest decline in mortgage rates could also offer some respite to the domestic housing market.

In 2020, the corporate housing market saw a 1% decline, before plummeting by -54% in 2021 to just £602.9m.

Commentators say another opportunity for real housing reform has passed the market by.

The UK housing market has reached its most unaffordable level in around 150 years, according to a new report by Leeds Building Society.

The housing market is facing a ‘worst of all worlds’ situation as rising interest rates and high inflation create the conditions for a housing market freeze unless the Government acts quickly, the Joseph Rowntree Foundation (JRF) has warned.
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