Property sales drop 16% in last year
Posted: 15/9/2023
The number of residential properties sold in the UK dropped by 16% in July 2023 compared to July 2023. But despite the press and media's predictions that home values would slide off the cliff because of interest rate rises, prices have remained reasonably stable. In part, this may be due to less supply being met by current demand, as fewer properties are actually on the market for sale. Meanwhile the rental market has seen its strongest year with prices soaring due to a demand-supply imbalance.
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