Property sales demand has fallen, with areas in the South in particular seeing a dip in buyer interest.
Homebuyer demand in England measured by the number of properties under offer, dropped 1.1% to 41.2% in the three months from April to June, new figures from EXP show.
However, a number of counties in the North and Midlands recording positive demand growth while many southern markets saw it weaken.
Resilience
Adam Day, Head of EXP UK and Europe (pictured), says: “The latest figures suggest that buyer demand remains relatively stable despite a modest quarterly decline at the national level.
“What continues to stand out is the resilience being shown by many markets across the North and Midlands, where affordability remains comparatively stronger and buyer activity has generally held up better.”
We’re seeing a market where regional performance varies considerably depending on local market conditions.”
He adds: “At the same time, many southern counties continue to face greater affordability pressures, which can have a more pronounced impact on purchasing decisions and transaction volumes.
“As a result, we’re seeing a market where regional performance varies considerably depending on local market conditions.”
East Riding of Yorkshire – at an increase of 3.1 -, Lancashire and Greater Manchester were among the strongest quarterly performers.
While Dorset, Surrey and Bristol posted some of the steepest quarterly declines.
Demand is based on the proportion of total properties listed for sale under offer on Rightmove as a percentage of total listings.
Offers down
There was a 6% fall in the number of homes listed this year to secure an offer, new Connells data revealed earlier this week.
Just over half – at 52% – of properties put on the market in January received an offer within six months, down from 58% at the same time last year.
