GetAgent.co.uk, the estate agent comparison site, commissioned a survey of 532 UK estate agents to see what they are currently seeing on the ground. The aim of the survey is to get a temperature test of the current health of the market following the increased turbulence seen during the final stages of 2022.

The results show that when it comes to the current level of buyer interest, the majority of real estate agents (57 percent) are less busy than they were at this time last year.

A quarter have seen a consistent level of interest from shoppers, with just 18 percent saying it’s busier now.

Just over half (51 percent) of real estate agents also stated that they are currently at a lower level of stock for sale compared to the start of 2022, with 45 percent also seeing a drop in listings. number of new inquiries from those looking to sell a home.

Of those who are seeing buyers act with intent, half said they were doing so with offers below the asking price, and only 11 percent saw buyers offer above the asking price, suggesting that the manic market conditions of the pandemic have well and truly calmed

This is undoubtedly due to the reduced purchasing power that many homebuyers have suffered as a result of rising mortgage costs.

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By yjawq

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