- Average asking prices for homes in Britain rose by 0.7 per cent, or £2,441, in September to reach £367,440, signalling an “autumn bounce” that exceeds the decade-long average September increase of 0.5 per cent.
- Despite the monthly rebound following a quiet summer, average property prices remain 0.8 per cent lower than at the same point last year and 2.3 per cent below levels recorded at the start of summer.
- Sellers face a crowded market as the total number of properties available for sale has reached a 12-year high, while prospective buyers continue to contend with stretched affordability and rising fixed mortgage rates.
- The likelihood of finding a buyer varies significantly across Britain, with Scotland seeing 91 per cent of listed homes find a buyer compared with 71 per cent in the North West, 56 per cent in the South East, and only 42 per cent in London.
- Property and mortgage experts emphasise that realistic pricing from the outset is vital to securing a sale, noting that 74 per cent of homes sold so far this year were priced correctly first time without requiring a later price reduction.
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