Most homes sold below asking price in July as sales took 17 weeks or more to exchange, Propertymark finds
Propertymark's July survey recorded an average of 75 new buyers registered per member branch against 10.9 homes for sale, with most properties selling below asking price. Stock is building faster than buyers are absorbing it, which keeps negotiating power with buyers. For sellers, realistic pricing matters more than usual, and more than half of agents say most sales take 17 weeks or longer from offer to exchange. These are July figures, gathered before September's round of mortgage rate rises.
What this means for…
Buyers· 2/3
Sellers· 2/3
Wider market· 1/3
Each axis scored 1 (minor) to 3 (major). Total 5/9.
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