Sentiment prevails as motivated patrons and sellers get on with transferring

Our Property Sentiment Index exhibits that in December, sentiment stabilised following the aftermath of the mini-Price range as severe patrons and sellers continued to have interaction.

Whereas there have been issues that transactions would take successful because of macro-economic challenges, our knowledge exhibits that as a UK common, 60% of properties have been Bought Topic to Contract inside 30 days of first being listed, a rise when in comparison with November 2022 (42%) and December 2021 (53%).

As a UK common, confidence remained robust amongst patrons, and vendor confidence that they’d transfer throughout the subsequent three months elevated barely when in comparison with November 2022 which noticed a big dip in vendor confidence when in comparison with October 2022.

–  73% of lively patrons within the UK have been assured that they might buy a property throughout the subsequent 3 months

–  64% of sellers within the UK have been assured that they might promote their property throughout the subsequent 3 months

–  60% of properties have been Bought Topic to Contract (SSTC) inside 30 days of first being marketed on the market, in contrast with 53% in December 2021

–  Skilled native brokers essential to pricing property accurately

Our Chief Govt Officer, Jason Tebb, discusses the insights from our newest report:

December tends to be an uncommon month so far as the housing market is worried. Those that want to maneuver keep on regardless whereas those that aren’t in such a rush could delay till spring as they benefit from the festivities. But our knowledge exhibits that confidence, challenged so considerably after the drama created by the ill-fated mini-Price range, remarkably stabilised in December. There have been issues that transactions would grind to a halt in a excessive inflationary setting, but whereas December is historically a quieter month, our knowledge signifies that 60% of properties have been SSTC inside 30 days, demonstrating that motivated distributors who priced their properties precisely have been nonetheless in a position to transact. This determine is a substantial enchancment on 42% in November when the market was rocked by the mini-Price range fallout. That is additionally up on 53% the earlier December, a time when the market was considerably extra buoyant.

With 73% of patrons assured they’d buy a property throughout the subsequent three months, a slight lower from 74% in November, and 64% of sellers assured they’d promote throughout the subsequent three months, up from 63% the earlier month, there may be nonetheless loads of positivity even because the inevitable rebalancing of the market continues. Home worth indices recommend that property values are nudging downwards however whereas there may be loads of hypothesis as to how far these could fall, brokers are extra involved about transaction numbers. There are nonetheless offers to be carried out and proof means that severe patrons and sellers proceed to have interaction with one another regardless of macro-economic headwinds. Ensuring properties are priced properly by taking recommendation from an skilled native agent who is aware of the native space in and out goes to be extra vital than ever because the market turns into more difficult towards the backdrop of a better value of dwelling and rising rates of interest.


As fixed-rate mortgage pricing continues to edge downwards with a number of lenders decreasing charges, this may occasionally assist restore positivity available in the market. Earlier expectations of base charge peaking at 6 per cent and even increased are actually wanting vast of the mark and with the Prime Minister vowing to convey inflation underneath management, patrons could also be extra assured that the latest mortgage charge volatility is behind us.

It may be tempting to learn an excessive amount of into one set of information however for those who thought nothing ever occurs in December, this wasn’t the case in 2022. It demonstrates but once more that there’ll at all times be those that want to maneuver, however properties have to be priced successfully if there may be to be a sensible market for individuals who are severe about shopping for and promoting in 2023.

You possibly can learn the total report here.

Content material offered by is for info functions solely. Impartial {and professional} recommendation ought to be taken earlier than shopping for, promoting, letting or renting property, or shopping for monetary merchandise.