Our sister company TwentyCi has published their latest edition of The Property & Homemover Report - Here are the highlights for Estate Agents.
Exchanges up 2.2% year on year in the 12 months to September 2019.
The number of new instructions coming to market declined slightly as homeowners become more wary in these pre-Brexit times.
AVERAGE ASKING PRICE
Across the UK regions, growth can be seen in the North while average asking prices in London and the South seem to have stabilised following their peak in recent years.
Mostly a positive picture for UK major cities with the exception of Birmingham, London and Southampton.
In London, the rental market remains strong. While the average asking price across the city has fallen slightly, it appears many continue to be priced out of the buying process.
Online agents market share is holding steady but their transactions continue to correspond to more economical properties. High street agents remain the preferred choice as online agents struggle to make any gains in the South of the UK, where prices are generally higher.
Households with income bands of £20,000 - £50,000 are proportionally buying and selling more properties in Q3 2019. Properties valued at £300k and below are those which sold best. Most growth in property exchanges during Q3 2019 has come from the 18-35 age group, possibly reflecting the current comparative ease for younger first-time buyers to become homeowners than it is for their older counterparts to exchange.
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