LiveMore comments on fall in September property transactions

Simon Webb, managing director of capital markets and finance at LiveMore, said: “The housing market has been more subdued this year than last year as the cost-of-living bites into many peoples finances. September saw the first small decrease in property transactions in four months but it is almost a fifth lower than last year.

“Yesterday’s mortgage data from the Bank of England showed a substantial drop in net lending and although mortgage rates are coming down, they are still high for many people. This background means house prices are lower than last year although there is more housing stock on estate agents books but less potential buyers coming through the doors.

“With storms and flooding affecting many homes and communities too, it is likely to be a quieter autumn for house buying and selling.”

Published: 31 October 2023