Housing market viewings plummet 98%

The housing market is experiencing a deep mid-summer freeze, with viewings per property falling by 98% compared to last year. Propertymark, the leading membership body for estate agents, reports that there were only 1.5 viewings per property in July, compared to 3 viewings in June and 4.4 viewings in July and August of the previous year. Compared to July last year, there are 37% more homes on the market, and the highest level recorded over the past 12 months. The average number of new prospective buyers registered per member branch is down to an average of 64 in July 2023, down from 86 in June 2023. However, Nathan Emerson, chief executive of Propertymark claims the sales market remains buoyant despite rising mortgage rates. He said: "As the number of viewings drop, this indicates a shift to only the more serious homebuyers and sellers that are remaining proactive in the market." 

Daily Mail (21/08/2023)