Housing market update: buyer demand still up 27% on 2019


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 right now your main focus will be on keeping your pipeline going, and that some of your clients may be asking you whether now is still a good time to move.

To help you with these discussions, we took a look at what our data says about the current market and how you can talk about it with your customers.

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Mortgage products withdrawn, but there is still choice
A number of mortgage products have been withdrawn, but according to Moneyfacts there are currently over 2,600 mortgage products available in the market

 

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