Welcome to the MoverAlerts Property & Homeover Report. This publication identifies the key events and trends in the residential property market for 2023 and the potential impact on your business.
Key points of interest:
- There were 1,064k of Sales Agreed in 2023
- New Instructions were up by 2% compared to 2022
- Exchanges have fallen over 20% year on year, 13% lower than 2019
- Fall Throughs have dropped year on year by 14%
- Time to Sell has increased to 62 days in 2023
- Time to Complete stands at 123 days/4.1 months
- The average asking price of a property is £429k – up 7k on 2022
- Sellers achieved 96.6% of their original asking price in 2023
“The media flew off the handle when it came to the property market last year. There were countless headlines speculating about a property market crash. And the reality? Actually, it wasn’t that bad! Considering the property market battled against high interest rates and a cost-of-living crisis, it managed to continue transacting well. It will be interesting to see what happens in 2024 but we feel quite optimistic about the potential for the coming year.”
-Matt Hawkins, Head of SME Data Sales, MoverAlerts
