Fall-throughs up and under offers down as prime market pauses
16 November 2022
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Estate Agent Today
Monthly analysis for October by property data company LonRes shows the level of properties under offer, an indicator of sales activity fell, has fallen sharply.
The number of properties under offer compared with the 2017-2019 average was down 9.2% in October and fell 20.3% compared with the same time last year, albeit just after the end of the Stamp Duty holiday.
Under offers have fallen most in the more mortgage dependent prime fringe areas, LonRes said, with houses down 37% and flats down 18%.
Under offers for flats are down across all sub-markets but houses in prime central London saw a 38% increase.