Welcome to the latest edition of the TwentyCi Property & Homemover Report, providing a comprehensive review of the UK property market, created from the most robust residential research and property change sources available.
Our report provides a real-time review of the UK housing market in Q3 2023, covering 99.6% of all sale and rental moves.
This property market analysis and state of the nation report provides unique insight into the people behind the numbers, creating a picture of the demographic, regional and socio-economic factors impacting the UK housing market, including:
The report compares quarters two and three of 2023 to delve into the impact of the UK’s ongoing inflationary pressures and the effects of an elevated interest rate on property affordability.
“The UK residential property market remains characterised by subdued activity levels with 10% fewer homes changing hands each month compared with pre-Covid norms. Given the rise in interest rates, which now appear set to remain around 5%* for a sustained period, it is unsurprising that house prices have also reduced. Despite the gloom, lower asking prices and rising incomes are dampening the impact of higher rates on affordability at a time where rents are surging due to low supply suggesting house purchase remains attractive.”
Alex Bannister – Independent Economist and former Director of Future Ventures, Nationwide Building Society
*Source: HM Treasury
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