LonRes: Quieter property market may continue until Christmas

14 September 2023

Estate Agent Today

High mortgage rates and a lack of supply may mean the prime property market misses its typical seasonal boost in the run up to Christmas, LonRes has warned.

It comes as the latest LonRes data for August shows transactions were 28.5% lower than the same month last year, and 9.2% below the 2017-2019 pre-pandemic period.

Average achieved sold prices fell by 1% compared to a year earlier, a slower pace of decline than last month, LonRes said.

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