Weekly Property Market Update – WC 21st September

The property market continues to show subtle shifts as we head into late September. According to the latest data, there were 35,852 new listings this week, marking a 4.09% decrease from 37,380 last week. While new property availability has slightly dipped, buyer activity remains steady.

In terms of sales, the number of agreed sales came in at 25,315, a small 1.01% decrease compared to 25,574 last week. Despite this minor drop, the market is showing resilience, with sellers seeing positive price movement. The average agreed sale price has risen to £361,888, up 1.51% from £356,511 last week. This increase suggests that demand is holding firm, and buyers are willing to meet slightly higher prices.

The combination of fewer listings and steady sales could indicate a market that is gradually balancing after a busy summer period. With fewer new properties entering the market, buyers may face slightly more competition, potentially driving prices upward in certain areas.

For homeowners looking to sell, the current environment remains encouraging. The small uptick in sale prices highlights that quality homes in desirable locations continue to attract interest. Conversely, buyers should be prepared for a competitive landscape, especially if they are seeking properties in popular neighborhoods.

Overall, the property market is demonstrating a steady, controlled pace, with average sale prices inching upward while the number of new listings sees a modest decline. Monitoring these trends week by week can help both buyers and sellers make informed decisions in the evolving market landscape.

Keep up to date for next week’s update as we track how these patterns develop, and continue to provide insight into the shifting dynamics of the UK property market.